Iran Offshore Oil Company giving priority to joint fields

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On December 11, 2015, Posted by , In News, With No Comments

Managing director of Iran Offshore Oil Company (IOOC) said the two oil fields of Salman and Foruzan which are being shared with neighboring UAE and Saudi Arabia respectively are given priority in company’s newly introduced Iran Petroleum Contract (IPC) investment projects.

“Among Sorush, Noruz, Dorud, Salman, and Frouzan fields which were introduced in IPC Conerence, the last two have the priority because of the Ministry of Petroleum’s policy to develop the joint fields,” Saeid Hafezi told Shana.
The new contacts which were unveiled on November 28-29 in Tehran, he added, stress securing sovereignty in production, employing modern technology and enhanced oil recovery from the fields.
In addition to the five fields, IOOC also introduced Farzad-A and Balal fields in the conference.
Representatives from 137 petroleum heavyweights including Royal Dutch Shell, Total and Lukoil, to name a very few, attended the IPC Conference in Tehran.
The representatives came from 45 countries. Totally, 335 companies have participated in the two-day event to be the first to know about the contract terms.
A follow-up conference will be held in London on February 22-24 after the IPC event in Tehran.

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