Second Contract for Iranian Mansoori Oilfield to be signed
Azerbaijan, Baku, Nov. 29 / Trend D.Khatinoglu/
The contract to develop the second phase of the Mansoori joint oil filed is to be signed next week, IRNA quoted the managing director of Contract Electric Power Research Centre of Iran (MATN) as saying.
Earlier today MATN and Energy Persia Company signed a deal worth $600 million, to develop the Yaran oilfield, west of Iran, the SHANA news agency reported. Iran is to raise the Mansoori oil field's oil production from 66, 000 barrels to 100,000 barrels per day.
The Field is located about 60 kilometres north of the Persian Gulf and near the south-western city of Ahvaz.
Earlier, National Iranian Oil Company's managing director Ahmad Qalebani said that 20 contracts will be signed by the end of the current Iranian calendar year (March 20, 2012) to develop joint oilfields.
Iran's Oil Minister Rostam Qasemi said in August that the Iranian government should consider plans for the development of joint oilfields in the border areas with Iraq, the IRNA news agency reported. The government should also increase the budgets for the development of joint oilfields, Mr Qasemi said at a meeting with the Iranian oil industry contractors.
"The oil industry's infrastructure needs more than 500 trillion rials (about 50 billion U.S. dollars) of investment to achieve Iran's 20-year economic perspective plan goals.
"By the end of the fifth development plan (2015), the country's oil production must increase to 5.2 million barrels per day (bpd) and this should come from the country's joint fields," the ISNA news agency quoted Qasemi as saying.