Iran to take action against delays in joint fields development
Tehran, Iran, May 3
By Milad Fashtami - Trend:
Iran will take action against delays in development of its joint oil and gas fields based on the signed contracts.
The managing director of Iran's Petroleum Engineering and Development Company (PEDEC), Abdolreza Haji Hosseinnejad, said that from now on the company's public relations department will announce the delays and shortcomings.
"Besides taking legal action against the contractors, we will not sign any other contact with them," he explained.
Hosseinnejad went on to note that contractor of North Azedgan field has requested for some extra time to develop the field as soon as possible.
Iranian Oil Minister Bijan Namdar Zanganeh has ordered the ministry officials to officially expel China National Petroleum Corporation (CNPC) from South Azadegan oilfield's development project.
The oil minister had previously issued a 90 day ultimatum to the Chinese firm, Iran's IRNA News Agency reported on April 29.
On February 18, Iran issued an ultimatum to CNPC over its continuous delays in developing the South Azadegan oilfield.
CNPC had been awarded with developing North Pars oilfield, Yadavaran joint oilfield, North and South Azadegan fields, and the Phase 11 of the South Pars gas field. Due to its repeated delays, the company has been expelled from the South Pars and the North Pars projects, and they are on the verge of being expelled from the South Azadegan project.
The oilfield is projected to produce 320,000 barrels of oil per day.