Tag Archives: Offshore

Top priority has been assigned to developing joint oil and gas fields because our neighbors are drawing from the underground resources at a rapid pace.

Oilfield services providers would be expected to invest in the fields in exchange for payment for every barrel of oil or Btu produced over an established baseline. the report added.

In the time since the nuclear deal. Iran has seen success in other business ventures.

South Pars is part of the world'.s largest gas field which is shared with neighboring Qatar.

This contract will send a strong political message to the world especially at the time that the Americans have adopted a confrontational course (against Iran).

The deal includes 30 wells and two production units.

In terms of daily production. the fields will yield 50. 000 barrels of crude oil per day and 120 million standard cubic feet of gas per day by early 2019.

Statoil currently has 16 supply vessels on long-term contract with 10 different ship owners.

Analysts say oil production in the region - apart from Prirazlomnoye - is years away and may start only in the mid-2020s.

The wells included 14 delineation wells one exploratory and 27 repairing ones.