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Turkmen VP Tours PSEEZ

Turkmen VP Tours PSEEZTurkmen VP Tours PSEEZ

Turkmen Vice-President Khajeh Mohammadov and Iranian Oil Minister Bijan Namdar Zanganeh held talks Monday and the two sides are expected to sign a memorandum of understanding to expand oil and gas cooperation, Mehr news agency reported.

Following his trip to Pars Special Economic Energy Zone (PSEEZ), the Turkmen leader expressed surprise at Iran's progress in oil and gas development. "Turkmenistan is willing to draw on Iran's experience in oil and gas sectors.

There are good investment opportunities in PSEEZ; moreover, your progress in the oil sector is amazing. Following agreements effective steps will be taken to expand oil collaboration with Iran," he said.

 On the sidelines of  Mohammadov's tour of South Pars, the managing director of PSEEZ Mahdi Yousefi announced," Currently South Pars output, standing at 300 million cubic meters (mcm) a day, accounts for 72 percent of the country's total gas consumption.

Twelve out of 24 South Pars phases have gone on stream and upon completion of the rest, gas production will reach 800 million cubic meters a day."

South Pars is the world's largest gas field, shared between Iran and Qatar, covering an area of 3,700 square kilometers of Iran's territorial waters in the Persian Gulf. It adjoins Qatar’s North Field, which measures 6,000 square kilometers.

Financialtribune.com