BAKU, Azerbaijan, July 11
By Elnur Baghishov – Trend:
All joint Iranian oil and gas fields are important, and special attention is paid to these fields, said Iranian Oil Minister Bijan Zanganeh said, Trend reports referring to the Shana news agency.
He made the remark at the signing ceremony of a contract on the development of the Yaran joint oil field (this field is called Majnoon field in Iraq).
Zanganeh said that at present, 27 phases operate in the South Pars gas field, which is Iran's joint gas field with Qatar. Only two phases of the field remain to be repaired, and this work is to be completed next year.
The minister emphasized that another contract has been signed for the development of the joint Bilal oil field, and a contract will be signed for the development of the joint Farzad B gas field.
"By the end of the current government's term [ends in August 2021], the status of projects at all oil and gas fields will be known," he said.
Zanganeh noted that the US sanctions against Iran have prevented bringing technology and investment from international companies to Iran's oil industry.
The minister added that nevertheless, Iran has not stopped operating in the oil and gas sector for a moment and continues to develop to the maximum, relying on local potential.
The Bilal oil field is a joint oil field between Iran and Qatar. At present, Iran produces 40,000 barrels of oil from this field.
Iran's Farzad B gas field is a joint gas field shared with Saudi Arabia. The field contains 614 billion cubic meters of gas, of which 60 percent of it can be extracted.
The contract for the development of Yaran joint oil field in Khuzestan Province in southwestern Ira was signed between the National Iranian Oil Company (NIOC) and Iran's Persia Oil and Gas Industry Development Company. The contract provides for the extraction of a total of about 39.5 million barrels of additional oil over 10 years.