No Plan for Foreign Investment at S Azadegan

An official in the Petroleum Engineering and Development Company (PEDEC) said Iran has no plan, for the moment, to delegate development of its rich South Azadegan oil field to foreign contractors.

Domestic firms are busy with the projects,” Mahmoud Marashi (pictured), contractor of the field’s development, told Shana. “We will do our best to achieve the three-year target of 320 thousand barrel a day,” he added.

The Chinese contractor CNPCI was ousted from the 2.5 billion dollar project to develop the field after failing in timely rendering of its undertakings despite of the passage of four years.

Last week, Marashi said that technical negotiations are underway with six domestic and foreign firms for drilling 70 wells in South Azadegan oil field in south western Iran.

There are currently 16 drilling rigs operating on some 100 wells while the project development target includes 185 wells. We are in the talks for drilling the remaining wells,” he said.

In June, Petroleum Minister Bijan Zanganeh said drilling of 40 wells in the massive South Azadegan field is to be put to tender soon.

In the first phase of the development of South Azadegan field, 320,000 b/d of crude will be recovered. For that purpose, 385 wells need to be drilled in this field. The initial budget approved for the development of South Azadegan is 500 million dollars plus 500 trillion rials.

(Source: Shana)

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