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11/25/06

Iran mulls joining world's largest oil consortium

TEHRAN, Nov. 25 (Mehr News Agency) -- In its bid to maintain gas condensate reserves, Iran is mulling to join one of the world's largest oil consortiums, an official with the National Iranian Oil Company (NIOC) noted.

Since Iran enjoys world's largest natural gas condensates reserves, South Pars fields, it is obliged to employ the latest research projects in the field to make optimum use of its natural gas and gas condensates reserves, Abdulrahim Ataii told the MNA on Saturday. "Therefore," he added, "NIOC is considering joining a consortium consisting of major international oil companies such as Hydro, BP, Stat oil, Shell, Total as well as two leading universities in the UK to conduct researches on the project."

Development phases of the South Pars Oil and Gas Fields will soon be completed and its maintenance stage will begin in the near future, he announced.

Maintaining the production volume is Iran's next concern, "that is why NIOC has decided to join the international consortium," he explained.

... Payvand News - 11/25/06 ... --



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