Iran News ...


3/16/04

Iran signs 1.2 billion dollar deal for collection of associated gases

Tehran, March 15, IRNA -- Iran has entered a dlrs 1.2 billion contract with a consortium of two Iranian and two foreign companies, for collection of associated gases from oil fields in Kharg and Behregan regions south of Iran.

Managing Director of Iran's Continental Shelf Oil Company Abolghassem Hassani told reporters here on Monday that under the project, which will earn the country one million dollars a day, associated gases will be collected from Hendijan, Behregansar, Sorush and Norouz oil fields in Kharg and Behregan regions.

The gases thus collected as well as gases from Abuzar field will be transferred to a firm in Kharg island, where they will be refined along with gases from Dorud field. The firm is scheduled to yield 660 million cubic feet of gas a day.

As for Iran's oil output from southern continental shelf fields since the victory of the 1979 Islamic Revolution, Hassani said the field has yielded 3.4 billion barrels of crude thus far.

He said Sirri A and Sirri E fields yielded up to 134 million barrels of oil by February bringing in a revenue of about 3.7 billion dollars under a buy-back contract.

He added that 42 million barrels of oil from Sorush field have thus far been sold for dlrs 840 million.

The official said each barrel of oil takes about 50 cents to be extracted from continental shelf oil fields.

Since the establishment of the Continental Shelf Oil Company in 1980, some 258 oil wells have been drilled, of which 152 were undertaken by Iranians.

He said studies are underway to inject water or gas into Sirri oil field to raise its production.

Concluding his remark, the official said studies are underway for production of oil from Farzam field south of Iran.

... Payvand News - 3/16/04 ... --



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