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Norway in talks on Iran oil field development, report claims

Norway in talks on Iran oil field development, report claims Energy

Norway in talks on Iran oil field development, report claims

TEHRAN, Iran – Khazar Exploration and Production Co. (KEPCO) is discussing potential investments with Norwegian companies in the Sardar-e Jangal oil field in the Iranian sector of the Caspian Sea, according to news service Shana.

Governor General of Gilan Province Mohammad-Ali Najafi has also declared his support for foreign investment in this northern province, while also stressing the need to consider environmental issues for development of the field.

KEPCO is responsible for exploration, development, and production operations of gas and oil offshore the southern Caspian region.

The South Caspian Exploration Study, covering the entire South Caspian up to the Apsheron sills, identified around 46 structures potentially holding promising exploration prospects.

Khazar has since discovered oil in deepwater in the Caspian Sea, but Iran seeks outside technical assistance to extend its deepwater operations.

In another Shana report, Behzad Mohammadi, managing director of Oil Industries’ Engineering & Construction Group, said phases 20 and 21 of the South Pars gas field in the Persian Gulf should come onstream by next March. Combined production capacity will be 50 MMcm/d (1.8 bcf/d).

More than 11 wells for Phase 21 should be completed within a month, he added, with 11 wells drilled at Phase 20 by mid-summer, followed by installations of the platform topsides by the end of this year.

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