Iran, Oman agree to jointly develop 'Hengam' oilfield: Owji

TEHRAN, May 24 (MNA) – Iranian Oil Minister said that Iran and Oman have agreed to form a committee to jointly develop 'Hengam' oilfield which straddles both countries' sea border.

Javad Owji made the remarks on Tuesday in an interview with IRINN and stated that cooperating with Oman in the field of energy, and export of technical and engineering services (upstream and downstream) in the oil industry was one main agreement made with the Omani side.

 “As the first basis of my talks with Omani Oil Minister Mohammed bin Hamad Al-Rumhi, it was agreed to form a joint technical committee to develop the next phases of the Hengam oil field in a seamless manner between Iran and Oman,” Owji said.

“Joint exploitation, in contrast to competitive exploitation, will be mutually beneficial to both countries as this method leads to less damage to the reservoir and allows for more extraction,” the oil minister added.

Good agreements were reached between the two countries in the field of construction of oil refineries and gas facilities, the Iranian oil minister added.

In 2005, both countries signed a memorandum of understanding to jointly develop the Hengam oil field but the agreement did not materialize and Iran decided to develop the field independently in 2012.

MA/FNA14010303000100

News Code 187140

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