Baku, Azerbaijan, Nov. 5
By Fatih Karimov– Trend:
Iran is negotiating with domestic and foreign companies for developing Esfandiar oilfield in the Persian Gulf, Hamid Bovard, managing director of Iranian Offshore Oil Company (IOOC), said.
Currently talks are underway with MAPNA Group, an Iranian enterprise involved in power, oil and infrastructure projects, as well as Japanese and South Korean companies on the issue, he told reporters on Nov. 5, expressing hope that the talks will be concluded by March 2018.
The official added that former talks with Norwegians about development of the oilfield failed due to technical reasons, without unveiling further details.
Iranian officials said in 2015 that a confidentiality agreement with a Norwegian-Austrian company for developing Esfandiar oil field and the required information about the field's development plan has been exchanged.
Later it was revealed that talks are underway between National Iranian Oil Company and Norwegian ‘Energy One Company to develop Esfandiar oilfield.
Bovard said that the main problem for the field’s development is providing capital, adding that the development of Esfandiar oilfield is not a complicated issue.
Esfandiar offshore oilfield discovered in 1966 is estimated to contain 532 million barrels of crude oil. Iran shares the field with Saudi Arabia. Located at 95 kilometers southwest of Kharg Island in the Persian Gulf, Esfandiar is one of Iran's least developed oilfields.