Baku, Azerbaijan, Oct. 12
By Elnur Baghishov - Trend:
It is possible to bring oil production at a field from 500,000 barrels to 600,000 barrels for a maximum of one month, but if it continues, it will greatly increase consumption and may result in the destruction of the entire oil field, Iranian energy expert Behrouz Namdari said in an interview with ILNA.
He was commenting on Saudi Arabia’s statement that it will offer two barrels of oil for every barrel exported from Iran.
“Oil properties of each country should be analyzed,” he said. “Is oil produced by Saudi Arabia enough for Iranian oil customers, or not? By mixing light and heavy oil, they can get oil similar to the one from Iran. Generally, in the Middle East, oil from Iraq is more similar to the one from Iran. Therefore, even if Iran takes its oil out of the market, which is impossible, the oil from Iraq, and not Saudi Arabia can replace Iranian oil.”
“Another issue is whether Saudi Arabian and Russian oil wells and facilities can increase the production to the volumes of oil offered by Iran for the market,” the expert said. “Presently, the extra oil currently produced by Saudi Arabia is about 500,000 barrels, and the extra oil produced by Russia is about 400,000 barrels. Let’s suppose that they raise production to a maximum level and that they replace Iran. First, it is already winter and the consumption will increase. Second, each oil facility has its own maximum production level. The production level can be increased, but it cannot be maintained for a long time.”
Regarding granting permission to the UK to jointly develop a gas field with Iran, the Iranian expert said that the production of this field has no significant effect on Iran’s revenues.
“In fact, this field is of no importance to Iran,” he noted. “But it is important for consumers in the UK, because the daily production of this field is 5.9 million cubic meters.”