Talks underway simultaneously for development of 22 oilfields

Gholamreza Manuchehri told a signing ceremony of a contract for development of Aban and West-Piedar with the Russia's Zarubezhneft late Wednesday that the deal includes 17 annexes and it will take 10 years to implement it.

He further noted that Iran has already started talks with a Russian company on development of other oilfields.

He also recalled that talks on Mansouri and Yaran oilfields are in final stages.

Yaran oilfield agreement will be signed soon, he said, noting that the deals on Jofeir and Sepehr oilfields will soon be signed given the relevant talks have been finalized.

National Iranian Oil Company (NIOC) signed a contract with a consortium of Russian Zarubezhneft and Dana Energy of Iran to develop joint oilfields of Aban and Piedar- gharb on Wednesday in the presence of Minister of Petroleum Bijan Zangeneh.

The first new oil contract in post-JCPOA was signed by NIOC and an international consortium led by French Total Oil Company to develop phase 11 of South Pars in July 3, 2017.

Managing Director of NIOC Ali Kardor, Managing Director of Zarubezhneft Sergey Kudryashov and Managing Director of Dana Energy Mohammad Iravani signed the contract in the presence of the petroleum minister.

The aim of the contract is to reach a production of 48,000 oil barrels a day and 67 million barrels in 10 years.

The contract may be renewed for another 10 years by mutual agreement. The share of the Russian company is 80 percent and that of its Iranian partner 20 percent.
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