Austria's OMV Stands by Iran Project - Upstream Chief
Austrian energy group OMV said on Tuesday it had not halted its planned Iranian energy projects despite the U.S. withdrawal from an international nuclear agreement, but it had made no investments there yet.The group was monitoring political developments in the United States and the European Union very closely, said upstream chief Johann Pleininger at the annual shareholders' meeting in Vienna."The project has not come to a standstill, it is continuing," Pleininger said, adding that "no investments…
Iran and Russia Sign Deal to Develop Two Oilfields
Iran and Russia signed a deal on Wednesday to develop two oilfields in Iran, according to Iranian state TV. The National Iranian Oil Company signed a deal with Russia’s Zarubezhneft to develop the fields, according to SHANA, the news site of the Iranian oil ministry. The Aban and Paydar-e Gharb fields are both in western Iran and jointly owned by Iran and Iraq, according to SHANA. Their combined oil output is currently 36,000 barrels per day. The 10-year agreement is intended to boost the production of the fields to 48,000 bpd.
OMV, Dana Energy Ink Oil & Gas Deal
Energy company OMV signed a memorandum of understanding for the development and re-development of oil and gas projects in Iran with Tehran-based Dana Energy, the Austrian group said on Wednesday, without giving details. OMV started operations in Iran in 2001 as the operator of the Mehr exploration block in the west of the country, but halted operations in 2006 due to sanctions being imposed on Iran. Last May it signed a memorandum with the National Iranian Oil Company (NIOC) for projects located in the Zagros area in western Iran and the Fars field in the south of the country…
DNO Among 29 Pre-Qualified Oil Fims in Iran
Oslo-listed oil firm DNO is among the 29 companies that have been pre-qualified to bid for oil and gas projects using the new Iranian Petroleum Contracts, the Iranian oil ministry's news website SHANA reported on Monday. In November, DNO signed a memorandum of understanding with the National Iranian Oil Company (NIOC) to conduct a study on the development of the Changuleh oil field in western Iran. Reporting By Ole Petter Skonnord
DNO Signs Iran Oil Field Deal
Norwegian oil and gas company DNO is to study the development of an oil field in Iran, becoming the second western company after France's Total to sign an energy deal in the country since the lifting of sanctions. DNO said on Wednesday it had signed a memorandum of understanding with the National Iranian Oil Company (NIOC) to conduct a study on the development of the Changuleh oil field in western Iran. DNO's shares rose nearly 8 percent on the news. Changuleh, discovered in 1999 but never developed, is estimated to hold more than 2 billion barrels of oil, the company said.
Wintershall Confirms Signed MOU with Iran
BASF's Wintershall oil and gas exploration subsidiary has signed a memorandum of understanding (MOU) with the National Iranian Oil Company (NIOC), it said on Tuesday, confirming a media report. "In order to prepare for possible further activities in the region, Wintershall recently signed an MOU with NIOC about a potential future cooperation," the Kassel, Germany-based firm said in a statement. Details were subject to confidentiality, it said. Iranian news agency Shana had said the two companies wanted to study four oil fields in western Iran.
Iran aims to boost oil output capacity by 160,000 bpd
Iran aims to boost its crude oil production capacity by 160,000 barrels per day following the completion of expansion projects at its North Azadegan and Yadavaran oilfields, a senior Iranian oil official was quoted as saying. The two oilfields are both operational and ready to be officially inaugurated after the Feb. 26 parliamentary elections, Abdolreza Haji-Hosseinnejad was cited as saying by Iran's oil ministry news agency Shana on Saturday. Haji-Hosseinnejad is head of Iran's Petroleum Engineering and Development Company (PEDEC). North Azadegan can produce 75,000 bpd and Yadavaran 85,000 bpd, he said.
OMV Wants Iran Expansion to Focus on Existing Oil Finds
Austrian energy group OMV wants its expansion in Iran to focus on the oilfields it has already discovered and it is prepared to invest only a limited amount there, Chief Executive Rainer Seele said on Monday. Seele, who is preparing a new strategy aimed at adapting to low oil prices and expanding production cost-efficiently, said he had no interest in a much more expensive gas project in Iran, apparently referring to the massive South Pars gas field. "At the end of the day for us it is not simply about producing oil or gas -- we want to make profits…
