Senergy Working on Oil Deals despite Sanctions

Iran’s Research Institute of Petroleum Industry (RIPI) quotes a representative of the Britiah company LR Senergy as saying that the company has been active in Iran despite the western sanctions, and is in the process of signing new contracts.

We are in the process of signing agreements. The current sanctions regime does not stop us from signing agreements and does not stop us from signing contracts,” said Dr. Iain Morrison, VP Technical of Senergy, on the sidelines of the 2nd International Conference on Technological Opportunities (ICTO) in Tehran.

He expressed much satisfaction for the bright prospects in Iran after removal of sanctions, saying, “We have been in Iran for many years; we have many friends in Iran and many projects. We have carried out in Iran. I am in the country for Iranian Oil Company overseas. So we are delighted to be here.

Morrison said he is a regular visitor of Iran and had a recent meeting with the vice president of the Research Institute of Petroleum Industry (RIPI).

The meeting was focused, he said, on the main topics to be discussed at the ICTO. He said the company participated in the ICTO to present the lectures and the company’s latest achievements in development and application of technologies for enhanced oil recovery (EOR).

There has been a lot of really good discussion in the conference which were not only about technology but the importance of the right thinking and the application of the technologies to increase recovery factors in fields here from 25% to 40%,” he said.

The international best practice now is around 50% so there is a huge opportunity, he added. “I think looking at very small steps to start a bridge to achieve these practices is really what we are focused on.

In Iran we are trying to do everything we can to position ourselves for the post-sanctions environment. It is a matter of time scale. We would very much like some certainty from our political leaders. Clearly there is progress and there is a real sense of optimism here which is fantastic. And this is what I would like to see. I really look forward to it,” he added.

(Source: RIPI)

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