Baku, Azerbaijan, Feb. 18
By Farhad Daneshvar, Dalga Khatinoglu - Trend:
OMV, a leading international oil and gas company, is considering participating in developing projects at two of Iran's oil fields, an official with OMV said.
"We are currently evaluating projects like the development of the Cheshmeh-Kosh field and we are in talks with the Iranian side about the new development of the field Band-e-Karkheh, Robert Lechner, OMV Head of Media Relations told Trend.
Both of the mentioned oil fields are among the dozens of Iran's oil-related projects that require foreign investments for further production and development. The chart below shows the fields' production and the amount of oil reserves.
|
Field Name |
Oil in Place (BSTB) |
Cumulative Production (Bbl) |
Current Production (Bbl) |
2D/3D |
No. of wells |
API |
|
Cheshmeh-Khosh |
3.740 |
354,000 |
72,000 |
3D |
16 |
20-29 |
|
Band-e-Karkheh |
3.468 |
15,000 |
0 |
- |
0 |
15 |
Cheshmeh-Kosh is an onshore oil field located 60 km off southeast of Dehloran city in the Western province of Ilam with 3.740 Billions of Stock Tank Barrels of oil in place which currently produces 72000 barrel per day.
Band-e-Karkheh is situated 30 km off northwest of Ahvaz city in south western province of Khuzestan with 3.468 Billions of stock tank barrels of oil in place. Currently Band-e-Karkheh filed does not produce oil.
Lechner further expressed hope over chances for cooperation with Iran.
"It is an interesting opportunity for OMV that Iran is back on the international energy market," he told Trend.
Meanwhile, he did not provide further details about a possible contract with Iran saying "so far it is too early" to speak about any details.
Iran's oil ministry has already called for $200 billion of investment for development of country's oil industry suggesting the Islamic Republic doesn't have enough of domestic sources to develop the oil industry, thus foreign investment is needed.
Iranian oil industry's upstream projects need $130 billion of investment while the downstream projects demand $70 billion to be developed.
In 2015 Tehran hosted 137 companies from 45 countries for a two-day conference, during which legal generalities of the new model of oil contracts (IPC) were introduced. However, some Iranian conservatives protested against the IPC suggesting the new model of the oil contract is against the Iranian constitution.
The IPC is a framework that lays out the basic structure - and some details - regarding all future petroleum contracts in Iran. It was earlier announced that the country plans to boost oil production to 5.7 million barrels a day and gas output to 1.4 billion cubic meters a day by 2021.
By holding 157.8 billion barrels of recoverable crude oil reserves, Iran possesses the world's fourth largest reserves of crude oil. The Islamic Republic also holds 34 trillion cubic meters of proven gas reserves, sharing 18.2 percent of total global gas reserves.
According to a recent report by OPEC Iran's oil production in January was estimated to be around 2.925 million barrels per day of which about 1.3 million barrels were exported.