Contracts with Russia lead to 200,000-barrel increase in Iran daily oil output: Oji
Iranian Oil Minister Javad Oji has said the contracts signed with Russian companies to develop eight oil fields have helped his country add more than 200,000 barrels to its daily production.
In his response to a question posed by Russia’s Energy Intelligence reporter about the outlook for Russian companies’ participation in Iran’s oil projects, the minister added the National Iranian Oil Company (NIOC) started its negotiations with Russia’s leading companies several months ago and contracts for the development of eight Iranian oil fields have been so far signed with Russian companies.
Oji, who made the remarks in a joint press conference with Russian Deputy Prime Minister Alexander Novak after the three-day 17th Joint Economic Commission between the Islamic Republic of Iran and the Russian Federation in Tehran, said negotiations with Russian companies about contracts on the development of more Iranian oil and gas fields reached their final stage during the commission meetings and new contracts will be signed in the near future.
Export of technical and engineering services, enhanced oil and gas recovery, and oil and gas swap were among the topics the two sides discussed, he mentioned.
Out of 15 memorandums of understanding (MOUs) signed by Iran and Russia, four are related to the energy sector, said the commission co-chair, adding that Russian companies are keen to participate in Iran’s oil projects as they have expressed their willingness to help Iran build refinery-integrated petrochemical plants and mini LNG plants, complete petrochemical value chain, and export oil products.
Asked by the RIA Novosti reporter about the latest talks with Russia, Qatar, and Turkmenistan on the formation of a gas hub in Assaluyeh, southern Iran, Oji said serious talks started some months ago and Russia has supported the initiative.
Russia, Iran, Qatar, and Turkmenistan are the world’s largest holders of gas reserves respectively, underlined the minister, adding Iran has massive gas infrastructure, particularly pipelines and gas compressor stations, which help the country play a great role in gas transit.
Iran is currently producing one billion cubic meters of sour gas per day, he concluded.
Photo: Iranian Oil Minister Javad Oji (R) and Russia’s Deputy Prime Minister Alexander Novak exchange signed documents in Tehran on February 28.
Source: Tehran Times
Related News
Top News
Australia’s CEFC invests $75m in homegrown critical minerals
Glencore in talks to sell Philippine copper smelting unit
BHP seeks Brazil growth to emerge from shadow of mining disaster
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Iron ore posts weekly gain as investors assess fresh Beijing stimulus
Norge Mining acquires Europe’s largest natural graphite producer
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Arcadium Lithium investors sue miner over Rio Tinto takeover
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Arcadium Lithium investors sue miner over Rio Tinto takeover
Skeena advances Eskay Creek permitting, unlocks Orion funding
