71802
New Petroleum Deals  Will Ease US Pressure
New Petroleum Deals  Will Ease US Pressure

New Petroleum Deals Will Ease US Pressure

New Petroleum Deals Will Ease US Pressure

Oil Minister Bijan Namdar Zanganeh says the ministry's top priority is to accelerate the proceedings to sign new oil and gas agreements with international contractors as a policy to defuse US pressures against the country.
"Another policy that the ministry has adopted is to diversify the range of contractors that would help protect the country’s oil industry against US pressures," Zanganeh was quoted as saying by the National Iranian Oil Company's news portal on Monday.  
"We should not rely only on Europe as the only supplier of technical know-how to expand hydrocarbon fields," Zanganeh said, adding that diversifying contractors would provide a safe protection to Iran’s oil industry in the long run.
In early July, Iran awarded a contract to a consortium led by French energy giant Total for the development of Phase 11 of South Pars.
Based on the deal, Total would invest an initial $1 billion in the project that will be carried out together with China’s CNPC and Iran’s Petropars.  
The deal was seen as the biggest vote of confidence in Iran since sanctions were lifted against the country under a 2015 nuclear deal with world powers.
According to Zanganeh, the US may be able to reduce the pace of Iran's activities in oil and gas fields by putting political pressure on international oil companies, yet it cannot stop them.
He noted that Iran needs to take concrete measures to facilitate investments in its oil and gas projects, specifically the ones shared with Iraq and Qatar.
Referring to the new model of oil contracts—the Iran Petroleum Contract, Zanganeh said devising the new generation of oil deals was a significant step in the same direction, as it can pave the way for plugging the technological holes in downstream and upstream projects.
Energy authorities, including Zanganeh, believe that Iran's oil and gas production levels are not proportional to its vast hydrocarbon reserves, as the country has been deprived of cutting-edge oil recovery methods for a long time.

 

Short URL : https://goo.gl/EsnNbZ
  1. https://goo.gl/11jTqR
  • https://goo.gl/mjKwRM
  • https://goo.gl/WRRyXq
  • https://goo.gl/FNdifc
  • https://goo.gl/qtF8zb

You can also read ...

Italy's Ansaldo Set to Produce Power From Iran's South Pars Gas Flares
Italy's Ansaldo Energia signed a memorandum of understanding...
Norway’s Saga Signs $2.9b Iran Solar Power Venture
Norway’s Saga Energy signed a €2.5 billion ($2.94 billion)...
French, German Groups Ink Water Agreements
French and German groups on Wednesday signed broad-ranging...
Total Says Will Try to Move Ahead With Iran Gas Project
French oil and gas major Total will try to push ahead with its...
Italian Firm to Build 910MW Power Station in Iran
Italian groups will help build a major thermal power station...
Tashkent Eyes Iran Oil Import, Mulls Transport Options
Uzbekistan is willing to join the list of Iran's crude oil...
Iraq Asks BP to Develop Kirkuk Fields
Iraqi Oil Minister Jabar al-Luaibi has asked BP to "quickly...
Brent, WTI Prices Pick Up
Oil prices rose on Wednesday as weekly US crude inventories...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus