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Contracts to be signed in Iran’s oil and gas sector

Oil&Gas Materials 12 July 2020 10:45
Contracts to be signed in Iran’s oil and gas sector

BAKU, Azerbaijan, July 12

By Elnur Baghishov – Trend:

The contracts on the development of a number of oil and gas fields will be signed in Iran in the coming weeks, Iranian Deputy Oil Minister and CEO of the National Iranian Oil Company (NIOC) Masoud Karbasian said, Trend reports referring to the NIOC website.

He made the remark at an event on the signing of the contract between Iran and Iraq on the development of a joint oil field.

Karbasian noted that the contract for the development of the Bilal gas field that is located eastern part of the South Pars gas field will be signed soon.

Karbasian added that a contract on the development of Iran's Farzad B joint gas field with Saudi Arabia will be signed soon.

The deputy minister said that work has been done to sign contracts to increase oil production from the Changuleh, Sohrab and South Pars fields. In this regard, the Planning and Budget Organization of Iran must give permission, and the contracts will be signed in the form of IPC (Iranian Petroleum Contract).

“The contracts on the development of the Naft Shahr, Foruzan and Rashadat fields have been prepared for signing and will be signed in the coming weeks,” he said.

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.

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 can be extracted.

The Bilal oil field is a joint oil field between Iran and Qatar. The field produces 14.1 million cubic meters of gas per day and it is planned to increase this figure to 28.2 million cubic meters.

The Changuleh oil field is a joint oil field between Iran and Iraq. The field contains about 4.3 billion barrels of oil. At present, Iran produces 15,000 barrels of oil per day from this field.

Iran's Sohrab oil field, which is a joint oil field with Iraq contains about 2 billion barrels of oil and 150 million barrels of it can be extracted.

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