Tehran, Iran, Jan.20
Trend:
Due to hesitation of foreign companies, Iran is to run the development of oil and gas reservoirs at Caspian Sea by itself, said the managing director of Khazar Exploration and Production Company Ali Osouli, Trend reports citing IRNA.
"There would be better result in development of oil and gas at Caspian Sea with the partnership of foreign companies, but Iran would not wait for them and will operate the work by itself," he said.
"The Khazar Exploration and Production Company has held various meetings and signed memorandums of understanding with giant global companies over the deepwater field development after the the signing of the Joint Comprehensive Plan of Action (nuclear deal), however if the foreign companies would not join the operations, we would continue the exploration activities by ourselves, he added.
"The exploration of Sardar-e Jangal gas field in the Caspian Sea and exploration operations have changed the political and security atmosphere of the region," he said.
Osouli noted that the fall of oil price has led to drop of exploration activities in deep waters in some point, but in general these activities have increased and development of these field have good progress.
He pointed out that the Caspian Sea states continue to develop exploration activities in producing oil and gas fields."Azerbaijan is the leading country in the Caspian Sea exploration that had positive results and signed contracts with giant foreign companies. Turkmenistan and Kazakhstan and Russia are also developing their exploration activities."
"Iran should not ignore the development of oil industry in the Caspian Sea," said Osouli.
Iran discovered the Sardar-e Jangal oil and gas field in 2012. The country has drilled two exploration wells, while it is estimated that the field holds 2 billion barrels of crude oil.