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National Iranian Oil Company to develop Resalat, Reshadat oil fields through buy-back scheme

Tehran, May 29, IRNA-National Iranian Oil Company (NIOC) has decided to develop Resalat and Reshadat oil fields through the buy-back scheme, it was reported here on Sunday.

The Persian-language newspaper `Eqtesad-e Pouya' quoted an NIOC director as saying the company has cancelled the tender to develop Resalat and Reshadat fields through the frameworks of engineering, procurement and construction (EPC) and will pursue the development of the fields through the buy-back scheme.

Abolqasem Hassani, the managing director of the National Iranian Offshore Oil Company, said the first EPC of Reshadat field had been defined for the construction of platform jackets, the second for the top-head structures of the field's platforms and the third for laying pipelines and installing power cables.

Hassani said the operations should have started in 2004 based on the basic planning for the development of the field.

Eqtesad-e Pouya report added that the development of Reshadat oil field can increase its crude production to as high as 85,000 barrels a day.

Also, once the facilities of Resalat oil field are rebuilt, the field can produce a daily 50,000 barrels of crude.

The platforms and facilities of Reshadat and Resalat oil fields were destroyed during the eight-year Iraqi imposed war by Iraq and the US.

Hassani stressed the US attacks had sustained the most damage to the platforms of the fields.

Resalat and Reshadat were producing between 35,000 barrels to 40,000 barrels a day before their facilities were destroyed.

The International Court of Justice (ICJ) in a ruling in November 2003 announced that the US move in attacking Resalat and Reshadat oil platforms could not be justified.

... Payvand News - 5/29/05 ... --

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