Oil Monthly Bulletin No 1

By Reza Washahi

October 2007

Tehran Times [1] :Darkhoein oilfield’s 2nd phase to start work by next March

The main aim behind second phase exploitation is to increase the current 50 thousand barrel output to 160 thousand barrels. The operations comprise the drilling of 15 development wells, three injection wells, and one to discharge extra water. Italian giant Eni and Iranian firm Naftiran Intertrade Co. (NICO) have signed buyback contracts to develop the first and second phases of the field. Darkhoein oilfield is located at 30km north of Khorramshahr and 100km south of Ahvaz, southern Iran.


Market Day [2] : Iran, Belarus to develop Iranian oil field

Iran and Belarus agreed Wednesday to a $450 million deal to develop an Iranian oil field near the Iraqi border, Iran's oil ministry said. The Jofeireh oil field, 50 miles southwest of Ahvaz, will add 40,000 barrels daily to Iran's oil production, said Aleksander Liakhov, chief executive officer of Belarus state-owned oil and gas exploration and production company Belorusneft. Ahvaz is located in the oil-rich Khuzestan province and was the site of heavy fighting during the 1980s Iran-Iraq war. It was also the site of nine months of bombings in 2005-2006 that Iran blamed on foreign governments.

International Herald Tribune[3]: Iran, China in energy deal, annual trade to hit US$20 billion (€14.4 billion), minister says

Speaking to reporters after meetings in Beijing, Mostafa Pour Mohammadi gave few details but indicated progress had been made. "We have many big projects on the table," Pour Mohammadi said.

Press TV [4] : Iran's oil industry attracts $37b

Iran has attracted a total of $37 billion of investments in its oil industry over the past two years, Iran's caretaker oil minister says. Gholamhossein Nozari noted that this was despite sanctions imposed by the US. When asked how Iran dealt with the US pressure on other countries to limit or end their business relations with Tehran, Nozari said that this was their problem and had nothing to do with Iran.

Tehran Times [5] : Iran’s aggressive natural gas expansion plans

South Pars can produce more than 400 million cubic meters per day (14.2 billion cubic feet/day). Considering internal demand, half of this production can be assigned to exports. Internal consumption represents a rapidly growing demand on Iranian gas supply. IGAT VII, 860km of 42 to 56-inch line, will carry gas produced in South Pars Phases 9 and 10 for use in Sistan and Baluchestan provinces in southern Iran, and possibly for export to the UAE, Pakistan, and India.

Tehran Times [6] : India not giving up on Iran gas pipeline deal

The UPA government was in favor of the project and was pursuing it, he said reacting to a question from reporters on whether the Indo-U.S. nuclear deal would impact the Iran gas pipeline deal. Iran had warned that it would finalize the multibillion-dollar gas pipeline deal with Pakistan and not wait indefinitely for India's decision.

Bahrain News Agency [7] : Bahrain to import Gas from Iran within 5 years

He said that if every thing went positively, the import of Iranian gas to Bahrain would begin in 2012. The two sides are studying the best facilitate the import whereby either Bahrain would invest in the Iranian oilfields in cooperation with international firm and would be provided with gas in return or would import gas directly.

Tehran Times [8] : Turkey defends energy ties with Iran despite U.S. opposition

Turkey plans to invest 3.5 billion dollars in Iran for gas production. Analysts say Turkey can use part of this gas for its own consumption. The rest can be transferred further into Europe along the upcoming Nabucco pipeline. Following Erdogan’s remarks, Energy Minister Hilmi Guler said he would meet his Iranian counterpart next month to sign a major energy deal.






Sources:

[1] http://www.tehrantimes.com/index_View.asp?code=152901

[2] http://www.market-day.net/article_93882/20070906/Iran-Belarus-to-develop-Iranian-oil-field.php

[3] http://www.iht.com/articles/ap/2007/09/14/business/AS-FIN-China-Iran-Energy.php

[4] http://www.presstv.ir/detail.aspx?id=23375&sectionid=351020103

[5] http://www.tehrantimes.com/index_View.asp?code=153410

[6] http://www.tehrantimes.com/index_View.asp?code=153325

[7] http://english.bna.bh/?ID=62461

[8] http://www.tehrantimes.com/index_View.asp?code=153655