Oil ministry is not still definite about giving development project of Yadavaran and North Azadegan oil fields to Chinese companies.
In an exclusive interview with IRNA on Saturday, Managing Director of National Iranian Oil Company (NIOC) Ali Kardor said the decision to give the two projects to Chinese firms is not fixed yet. He said NIOC is still considering the proposed plans by Chinese companies.
He added according to the existing contracts, Chinese firms have been given priority in developing the second phases of the two oil fields, but nothing has been finalized yet about their proposed projects.
In April, Managing Director of Oil Development and Engineering Company Abdolreza Haji Hosseinnejad said that Iran has been in talks with Chinese companies for development of phases two of North Azadegan and Yadavaran oil fields. He added that in case of failure of the talks, the fields will be developed per new IPC models.
He said development of oil fields west of Karun, joint field with Iraq, are on the agenda of Iranian oil industry and to this end, the Ministry of Petroleum intends to follow up the second phases of the fields’ development.
Azadegan is a joint oil field with Iraq; it holds in-place oil reserve of 6.5 billion barrels. The North Azadegan field is a part of Azadegan field which is located in 120 kilometers west of Ahvaz. By development of both phases of the plan, 150 thousand bpd will be produced.
Yadavaran Oil Field is a joint field; it is located in Khuzestan Province in 70 KM south west of Ahwaz city. The field holds an approximate of 17 billion barrels of in-place oil reserve. Currently the field produces 100 thousand bpd including 83 thousand bpd of light oil and 17 thousand bpd of heavy oil. China SINOPEC is the main contractor of the first phase of Yadavaran oil field development where OEID is the Managing Contractor of the phase.