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Iran announces possible oil cooperation with Saudis in PG

Friday, 24 February 2012 | 00:00
Managing director of the National Iranian Offshore Oil Company (NIOOC) says Iran is ready to cooperate with Saudi Arabia to develop the Farzad A joint gas field in the Persian Gulf.
Mahmoud Zirakchianzadeh said that Iran follows a policy of cooperation, not rivalry, with its neighbors for the development of joint oil and gas fields, especially in the Persian Gulf.
“The National Iranian Offshore Oil Company, therefore, welcomes Saudi Arabia’s willingness to develop this offshore [gas] field,” he added.
The official further stated that exploration and 3D seismography operations have already started in Farzad A gas field and drilling operations are expected to begin late in March.
Zirakchianzadeh said NIOOC would sign six new oil contracts to implement oil and gas projects in the Persian Gulf before the end of the current Iranian calendar year (started March 21, 2011).
The projects, he added, include the development of Farzad B gas field, the development of Soroush oil field and renovation of oil facilities on Khark Island.
Asked about developments in the Hengam oil field project, which is shared with Oman, the official said the drilling of the fourth oil production well has been finished in the offshore field.
Zirakchianzadeh stated that the field is currently producing 22,000 barrels per day of crude oil, which will increase to about 27,000 barrels per day after nine new wells are drilled.
On Feb 12, the Exploration Department of the National Iranian Oil Company announced that it had signed a contract for the exploration and development of Farzad A gas field with Iran’s Petropars Company.
The country shares oil and gas fields with most of its neighbors in the Persian Gulf region as well as with Turkmenistan in the Caspian Sea.
Energy officials in Tehran said in July 2011 that as much as 35 percent of the country's energy development budget will go towards the development of joint oil and gas fields.
Source: Press TV
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