UK Firm Releases Turbines Blocked Due to Sanctions

UK Firm Releases Turbines Blocked Due to SanctionsUK Firm Releases Turbines Blocked Due to Sanctions

Two turbines to be used in Iran's oil and gas projects have been released by an unnamed British company, the deputy head of Iranian Oil Pipeline and Telecommunication Company said.

“After international sanctions were lifted in January, we started negotiations with the British side on releasing the turbines. They are expected to be delivered soon,” Dariush Amirsardari Goudarzi was quoted as saying by Mehr News Agency on Saturday.

According to Goudarzi, Iran had sent the two turbines to the UK for repairs before the tightening of international economic sanctions in 2012.

The official did not name the project for which the turbines are to be used, but said Iran will receive the equipment in one or two months.

Iran and the UK are reportedly taking steps to revitalize energy ties. The two countries have not had normal diplomatic ties since the 1970 revolution in Iran.

Ali Kardor, the managing director of National Iranian Oil Company, said last month that BP had released Iran’s share of revenues from past gas sales at the Rhum Gas Field in the North Sea and negotiations were underway to ease the transfer of the payment to NIOC accounts in Iran.

He also said last week that Iran has gained access to a portion of the gas dues and the rest of the money will be accessible in the near future.

Rhum Gas Field, which cost $565 million to develop, is shared equally between BP and NIOC. But gas production from the field was stopped in 2010 due to the sanctions.

Alireza Ebadi, the director of phases 20 and 21 of the giant South Pars Gas Field, said last month that Spanish and French equipment for the two phases had been released.

“Bans on Japanese consignments have also been lifted and the goods were delivered to Iran,” he added.

Under the sanctions regime, European and Asian manufacturers stopped the delivery of much-needed oil and gas equipment to Iran in fear of violating US and UN restrictions imposed on doing business with the country over the dispute on its nuclear program.

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