Russia to develop two joint oilfields between Iran, Iraq

TEHRAN, Jun. 19 (MNA) – Russian firms will develop two oilfields shared between Iran and Iraq.

Deputy CEO of the National Iranian Oil Company (NIOC) Gholam-Reza Manouchehri made the above remark and said, “India follows up the development of Farzad B Gas field in the Persian Gulf seriously.”

Presently, Iran is negotiating with Russia’s Gazprom Company for the development of Azar and Changooleh oilfields shared between Iran and Iraq, he maintained.

While expounding on the development trend of oil projects, he said, “currently, development of phases 13, 14, 22, 23 and 24 in South Pars Gas Field is underway, so that tender notices have been launched for the development of phase 11 of the gas field.”

In response to a question on the continuation of development of Phase 11 of south Pars Gas Field, he said, “moreover designing and organizing tenders for the development of Phase 11, even its results have been readied for notification.”

The claim that the development trend of Phase 11 in South Pars Gas Field is ceased due to activity of France oil major ‘Total’ is not accurate, he maintained.

Turning to the trend of exclusion of Total oil major from Phase 11 of South Pars Gas Field, Manouchehri added, “it is predicted that Chinese National Petroleum Corporation (CNPC) will replace French Total oil major if the company stopped its activity in this regard.”

Elsewhere in his remarks, the deputy CEO of NIOC pointed to the development of West Karum oilfields and said, “all pertinent activities have been focused on the faster development of joint oilfields located in the zone such as Azadegan Oilfield.”

Turning to the retaining and increasing oil production in oilfields in the country, he said, “with the implementation of these plans within the framework of 34 packages in different fields, it is predicted that more than 400,000 barrels of oil will be added to the production capacity of these oilfields.”

Manouchehri put the total value of these projects at more than $6 billion and said, “under the contract, all these projects will be put into operation within the framework of EPCF (Engineering, Procurement, Construction and Financing) scheme, so that repayment of costs is carried out of production growth.”

MA/IRN82946342

News Code 134940

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