14 May 2016 - 18:06
  • News Code: 260699
Iran Prepares Ground for Development of Northern Oil Field

TEHRAN, May 14 (Shana) -- Required preparations for development of Sardar-e Jangal Oil Field based on the new oil and gas contracts have been done, Khazar Exploration and Production Company(KEPCO) Acting Managing Director Farhang Khatibi said.

Speaking to Shana on Saturday, he added that the post-sanctions era paved the way for boost of relations with foreign companies and several foreign corporations have declared interest to invest in the Sardar-e Jangal Oil Field.
Iran is now in talk with Norway companies to develop Sardar-e Jangal Oil Field, the official added.
In the meantime, Governor General of Gilan Province Mohammad-Ali Najafi declared his support for foreign investment in this northern province.
In an interview with Shana on Saturday, the official urged considering environmental issues for development of the oil field. 
Khazar Exploration & Production Co. is responsible for exploration, development, and production operations of gas and oil resources offshore the southern Caspian region.
The South Caspian Exploration Study, covering the entire South Caspian up to the Apsheron sills, was completed in November 2001. It identified around 46 structures potentially holding promising exploration prospects. Khazar has since discovered oil in deep water in the Caspian Sea, but Iran is said to need outside technical assistance to extend its deep water operations.
News Code 260699

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