Iran signs gas exploration deals

07 April 2008
Iran Offshore Oil Company (IOOC) has finalised deals with a host of international companies for the development of its Farsi, Lavan and Kish gas fields.

IOOC has completed a financial proposal with India’s ONGC for the Farsi field with technical studies, planned to take place in two phases, scheduled to begin shortly.

The state-run firm has also held technical and financial talks with an unnamed Polish firm to develop the giant Lavan gas field project, according to Iran’s official energy news agency Shana.

In February, IOOC signed a $1bn energy investment deal with Poland's state-owned gas exploration and production company, PGNIG.

The Lavan field is thought to have more than 6 trillion cubic feet (tcf) of recoverable gas resources (MEED 14:01:08).

A third deal has been signed with an Omani company for the development of the Kish field, with the deal expected to produce 1 billion cubic feet a day (cf/d) of gas. It follows a development agreement signed last month between Iranian Petroleum Engineering and Development Company (IPEDC) and the National Iranian Drilling Company (NIDC) for the field (MEED 19:03:08).

The National Iranian Oil Company (NIOC) has previously forecast production of 3.5 billion cf/d from the field, with around 75 per cent of all gas reserves thought to be recoverable.

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