Tehran, Iran, December 11
By Mehdi Sepahvand – Trend:
Iran is likely to hold an international on the development of South Azadegan oil field in the first half of 2017, CEO of Petroleum Engineering and Development Company (PEDEC) Nureddin Shahnazizadeh said.
As one of the world’s biggest oil fields, South Azadegan, has attracted Shell, Total, Inpex, and some other international oil companies for cooperation, Shahnazizadeh told Mehr news agency December 11.
He said Shell, Total, and Inpex each are required to provide their study results to the Oil Ministry in a short time, after which Iran will announce the tender.
There is the possibility that an English-French-Japanese consortium is hired to carry out the development, but Iranian companies should also be party to the consortium, he said.
It is estimated that phase two of South Azadegan needs $5 billion investment in order to yield 300,000-320,000 barrels of crude per day.
Currently, the field’s output stands at 50,000 bpd. The first development phase is scheduled to be over by March, which will boost the output to 100,000 bpd.
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