Iran keeps up efforts to develop oil, gas projects in Caspian
Baku, Azerbaijan, July 25
By Emil Ilgar– Trend:
Though none of international companies has decided yet to get involved in Iran’s upstream oil and gas projects in the Caspian Sea, the country continues efforts to attract them to these projects, Mohsen Delaviz, managing director of Khazar Exploration and Production Co. (KEPCO) said July 25.
According to him, recently the Investment Committee has been established in KEPCO to accelerate negotiations with foreign companies and global investment funds, Shana news agency reported.
Iran has introduced developing 49 oil and gas fields for foreign companies, based on newly designed contract model, called Iran Petroleum Contract (IPC).
Iran has offered 4 projects in the Caspian Sea (blocks 24, 26 and 29) as well as Sardar-e Jangal oil field to foreigners for exploration and development.
Iran has divided its exploration area in the Caspian sea to 46 blocksç 8 of which have high priority. Iran had carried out 3D seismic operations in 4000 square kilometers in the Caspian Sea at blocks 6,7,8 and 21 from 2003 to 2005 by its Pejvak ship.
Iran also announced in 2012 that while drilling a 1,000-meter well below the surface of the Caspian Sea by Amir Kabir drilling rig, the country found a gas field at the depth of 700 kilometers. A year later Tehran announced the field (Sardar-e Jangal) was in fact an oil field with a gas layer.