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Iran's oil and gas projects in Caspian Sea for foreigners

Business Materials 22 December 2015 00:25 (UTC +04:00)

By Dalga Khatinoglu

During the 10th joint economic commission meeting, held on Dec.21 between Iran and Azerbaijan, two sides emphasized on boosting economic relations.

Iran and Azerbaijan's trade turnover stands below $500 million according to Iranian officials statements, while the custom statistics show the figure is less than $300 million.

Coming to energy sector, Iran holds 10 percent share in Azerbaijan's offshore gas field, Shah Deniz. Iran and Azerbaijan also swap about 1 mcm/d of gas and exchange power.

Last November Iranian Oil Minister Bijan Namdar Zanganeh explained the country's interests in cooperation with Azerbaijan, during an exclusive interview with Trend.

The most important issue for Iran currently is development of about 50 oil and gas fields, offered to foreigners last month in the framework of new designed oil and gas contracts, called Iran Petroleum Contract (IPC).

Iran has offered 4 projects in Caspian Sea, blocks 24, 26 and 29 as well as Sardar-e Jangal oil fields are proposed to foreigners for exploration and development.

Iran divided its exploration aria in Caspian sea to 46 blocks which 8 of them have pririty. Iran had carried out 3D seismic operations in 4000 square kilometers of Caspian Sea at blocks 6,7,8 and 21 from 2003 to 2005 by his Pejvak ship, which was fired in 2005.

Iran also announced in 2012 that while drilling a 1,000-meter well below the surface of the Caspian Sea by Amir Kabir drilling rig, the country found a gas field at the depth of 700 kilometers. A year later Tehran announced the field (Sardar-e Jangal) was in fact an oil field with a gas layer. The Amir Kabir drilling rig's crane crashed last March in the mentioned field. Baku has the necessary equipment to repair the crane.

Coming to Caspian Sea, the Iranian part of sea have been studied by Azerbaijani equipments two times - once before the fall of the Soviet Union, and the second time in 1994 and 1995 - to discover possible hydrocarbon reserves, but to no avail.

Azerbaijan also have all technical equipments from rig building yards like Heydar Aliyev Baku Deepwater Jackets Factory, barges for transferring the rigs and platforms as well as laying pipelines under sea, huge cranes, seismic vessels, several rigs to be rent to Iran as well as supportive ships for various operational activities.


Sardar-e Jangal

This field, located at block 6 with dimensions of 24x6 km in 750 meter water depth. Iran has drilled two exploration wells and reportedly the field holds 2 billion barrels of crude oil, with API of 39.

Blocks 24, 26 and 29

Block 24 is located 130 km to north Nowshahr port with 600-800 meters depth and 200 square km aria.

Block 26 also is situated 100 km to north-east Anzali port, with 850-900 meters depth and 384 square km aria.

Block 29 also located 135 km to north Nowshahr port with 800 meters depth and 1028 square km aria.

Dalga Khatinoglu is an expert on Iran's energy sector and head of Trend Agency's Iran news service

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