Tehran, Iran, September 14
By Milad Fashtami - Trend:
Iranian companies will finish the development project of Iran's South Azadegan field in three years.
The managing director of Iran's Petroleum Engineering and Development Company (PEDEC) Haji Hosseinnejad said that the final cost would be much less than the money that the Chinese firm had requested, Iran's IRNA News Agency reported on September 14.
"The Chinese firm had requested for $6 billion, which could be double under certain conditions," he explained, adding that Iranian companies will complete the project with less than the mentioned amount.
Iranian Oil Minister Bijan Namdar Zanganeh ordered the ministry officials in May 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.
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.
Roknoddin Javadi, the managing director of National Iranian Oil Company, said on May 21 that domestic companies will carry out the development project of Iran's South Azadegan oil field.
"Iranian companies are capable of finishing the project," he said, Iran's IRNA News Agency reported on May 21.
The oilfield is projected to produce 320,000 barrels of oil per day.
The development plan of Iran's North Azadegan oil field is also expected to be completed in summer next year (July 2015).
Haji Hosseinnejad said on May 3 that Iran will take actions against delays in development of its joint oil and gas fields based on the signed contracts.
"Besides taking legal actions against the contractors, we will not sign any other contact with them," he explained.