oil related 201007

Iran, Oman to finalize gas contract by March ’08

TEHRAN (PIN) – Iranian Offshore Oil Company (IOOC) managing director said talks on the country’s gas exports to Oman were progressing well and the two sides would be expected to finalize the contract by the current Iranian year (March 19, 2008).

Mahmud Zirakchianzadeh added Iran would export one billion cubic feet of gas to Oman per day after the contract was signed.

He added Iran and Oman had already inked an initial memorandum on gas exports.

The IOOC chief said a high ranking delegation from Oman held talks on the development of Hengam gas field in Tehran last week.

Negotiations mainly revolved around output and type of participation, said Zirakchianzadeh, adding the two sides would reach a final agreement by next March and executive operations would kick off thereafter.

Iran, China, and Malaysia would reach an agreement on the development of the Ressalat oilfield in the near future, he said.

Zirakchianzadeh added that once the talks on the field’s development yielded results, we would sign a contract.”

The field’s output was estimated at 7-8 thousand barrels per day which would reach 46,000 barrels after the development plan, he elaborated.

Shifting to gas exports to the United Arab Emirates (UAE) from Salman gas filed, the official said, “We are negotiating with the target country on the price.”

Source: Tehran Times

Pak., Iran talks on IPI enter final phase

Islamabad, (PTI): Talks between Pakistan and Iran on technical details of a gas pipeline involving the two countries and India on Friday entered the "final phase" as most issues relating to the project have been been resolved.

Tehran's Special Representative for the Iran-Pakistan-India (IPI) pipeline, Ghanimi Fard, called on Pakistan Petroleum Minister, Amanullah Khan Jadoon, and expressed satisfaction at progress on the project and said its early implementation would strengthen and expand economic and trade relations in the region.

On-going negotiations between Iranian and Pakistani officials here on the $7 billion pipeline project have entered the "final phase" as most issues linked to it have been resolved, state-run APP news agency said without giving details.

Fard and Jadoon discussed measures to promote cooperation in the oil and gas sector between the two countries. Jadoon said such cooperation would open new vistas for the mutual advantage for both sides.

He invited Iranian companies to avail of investment opportunities to set up oil refineries as well as petro-chemical and oil and gas exploration projects.

Fard said the IPI pipeline project would bring the member states closer.

Pakistan and Iran are close to finalising a gas purchase agreement for the pipeline during the on-going talks here, media reports said.