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Iran, Qatar reach agreement on joint management of oilfield

TEHRAN, Dec. 26 (Mehr News Agency) - Iran and Qatar have reached an agreement on the joint management of the Mobarak Oilfield that is shared by Iran and the Persian Gulf state.

A joint platform has been built at Mobarak Oilfield around Iran's Abu Musa Island and the two countries would take their share of the production from the joint field, Akbar Torkan, the managing director of Iran's Pars Oil and Gas Company said.

Iran and Qatar are not competing over the marketing of their products from the field, Torkan said, adding that neither the Qatar nor us has intervened in each other's respective marketing affairs, the Persian service of ISNA news agency quoted him as saying on Tuesday.

He also commented on the recent 'behavior' of foreign banks regarding Iran's oil and gas contracts, and said that we had concluded an agreement with one of them -the banks- over their investment in South Pars oil and gas development phases 17 and 18. They did not keep their promises however.

Nevertheless, he said, as for the phases 9 and 10, the problems have been resolved and starting 15 days ago, a bank has begun its preliminary work aimed at financing the projects.

Iran's second UBD set ready by Sept. 2007: NIDC official

TEHRAN, Dec. 26 (Mehr News Agency) - The second set of under balance drilling (UBD) equipment will be ready by September 2007, the UBD director of the National Iranian Drilling Company (NIDC) noted on Tuesday.

The equipment will save the country around Rls.70 billion, compared to Rls.150 billion spent on the first components. Moreover, domestic know-how and purchase is increased to 30% and 50% respectively, leaving the rest to outside purchases, ISNA quoted Javad Mohammadzadeh as saying.

Iran has started using UBD for the past three years on 14 wells, and NIDC has so far carried out 37,000 meters of drilling by this method.

The UBD method decreases the cost of the fluid used for drilling and the number of acidization operations plus enhancing the safety. The method is applied to six oilfields at Karanj, Parsi, Gachsaran, Binak, Bibi-Hakimeh, and Marun.

POGC signs drilling rig contract with two domestic companies

TEHRAN, Dec. 26 (Mehr News Agency) - The Pars Oil and Gas Company (POGC) on Tuesday signed a contract on the construction and rental of two drilling rigs with two domestic companies, the POGC Public Relations Dept. announced.

Calling for an investment worth over $233.5 million, the contract was signed with the National Iranian öDrilling Company (NIDC) and Iranian Offshore Engineering and Construction Company (IOEC). Project owner, Pars Oil and Gas Company, will rent the rigs for five years.

Under the contract, NIDC and IOEC will build two jack-up rigs for the use in the Persian Gulf. The rigs are to be constructed in Khorramshahr Yard, southwestern province of Khuzestan, within two years.

The contract enables Iranian companies to acquire and transfer the needed technology for construction of offshore drilling rigs. The issue is of paramount importance given that Iran currently pays a considerable sum to foreign contractors to rent the equipment.

... Payvand News - 12/26/06 ... --

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