Iran News ...


12/27/06

Iran, Switzerland reach preliminary gas transfer agreement

TEHRAN, Dec. 27 (Mehr News Agency) - Iran and Switzerland have recently signed a heads of agreement (HOA) on gas transfer to the European state, an Iranian official said in Tehran on Wednesday.

"We have agreed on gas transfer via a pipeline passing through Turkey three weeks ago," Nosratollah Seifi, the managing director of the National Iranian Gas Export Company (NIGEC) noted.

The Swiss have asked for transfer of 0.5 to 4.5 billion cubic meters of Iran's gas intended to be used in markets like Italy, Iranian Students News Agency (ISNA) reported Seifi as saying.

The official continued, "Ongoing talks with Econgas Company - an affiliate to Austrian OMV - revolve around transfer of 10 billion cubic meters of gas per year."

President allocates $4b for oil industry

TEHRAN, Dec. 27 (Mehr News Agency) -- President Mahmud Ahmadinejad has allocated four billion dollars from the Oil Stabilization Fund for investment in the oil industry, the director of the Pars Oil and Gas Company (POGC) said here on Tuesday.

"Following restrictions on loans imposed by foreign institutions, the president has agreed to allocate 4 billion dollars from the OSF to the oil industry for financing the development of South Pars phases 15, 16, 17, and 18 and also parts of phases 9 and 10," Akbar Torkan told reporters.

He said Iran's oil industry faces some financial problems due to the commotion created by certain major powers in the international arena, which has motivated some foreign banks to unfairly impose financial restrictions on Iran, even though there is no mention of this in the UN resolution.

South Pars is the largest gas field in the world. It is shared by Iran and Qatar and is located in the Persian Gulf.

Iran's IOOC sets record in crude production

TEHRAN, Dec. 27 (Mehr News Agency) - Average crude exploited by Iranian Offshore Oil Company (IOOC) has set a record figure in the company's history, production manager at IOOC stated on Wednesday.

"By developing the potential oilfields in the region, their capacity has increased from the previous 766,000 bpd to current 805,000. This is mainly due to simultaneous production coordination," Gholam-Abbas Jokar noted, adding that maintaining the present level of oil extraction is on the company's priority list.

"Production from Sorush and Noruz oilfields stands at 190,000 bpd of which some is directed to Bandar Abbas Refinery," he elaborated, stipulating, "Other than the two, production from most other fields requires (water) injection method."

Abuzar, Dorud, Bahregansar, Balal and Hendijan are among the potential oilfields which may further increase IOOC's record capacity, he noted in conclusion.

IOOC is a subsidiary of the National Iranian Oil Company (NIOC), which is in charge of Iranian oil and gas projects in the Persian Gulf. As far as geographical operations are concerned, the work areas managed by the company include Bahregan, Kharg, Sirri, and Lavan.

... Payvand News - 12/27/06 ... --



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