Total Urged to Cooperate

• Text size
•  
•  

TotalTotal can preserve its presence in Iran's South Pars gas field by cooperating with the Chinese National Petroleum Corporation (CNPC), managing director of National Iranian Oil Company said.

"If TotalTotal is willing to take part in the development of the South Pars gas field, it could cooperate with the Chinese National Petroleum Corporation," Seyfollah Jashnsaz told Shana.ir.

TotalTotal had signed a memorandum of understanding with National Iranian Oil Company (NIOC) to develop Phase 11, but since the French company delayed in fulfilling its commitments, NIOC signed a $5-billion contract with CNPC on June 3 for the development of Phase 11.

Jashnsaz noted that TotalTotal and Malaysia's Petronas can return to the project and collaborate with the Chinese company.

"The project will be completed within 52 months. It is aimed at producing 2 billion cubic meters of natural gas and 70,000 barrels of heavy gas condensates per day," he added.

Meanwhile, five Iranian companies have expressed interest in bidding on the construction of the Abadan-Basra pipeline to Iraq.

Ali Moallemipour, an Iranian lawmaker tasked with overseeing the project, said the pipeline would run roughly 5 miles in Iranian territory, with more than 30 miles on Iraqi territory.

"The project includes a pipeline 32 inches in diameter for transporting 350,000 barrels of crude per day from the Basra oilfield to Abadan as well as a pipeline 16 inches in diameter for transporting 150,000 barrels of oil products per day from Abadan to Basra," he said.

Iraqi officials had invited international bidders for their portion of the project in 2008. Moallemipour said the pipeline should go on stream in the next few years.

The report says Iraq has agreed to export oil products to Iran through the remainder of 2009.

The two countries are also moving forward on the establishment of an oil refinery in Karbala and other projects.

Iraq earlier this week held auctions for eight service contracts in the oil-rich country, though price concerns and unrest in some regions sparked little concrete interest.

Iran plans to invest around $70 billion in two major offshore natural gas fields in the 2010-15 period.

Jashnsaz said the country would invest $40 billion to complete remaining projects in the South Pars field during the fifth five-year economic plan, which runs until 2015.

An additional $25 billion would be invested in the North Pars field.

© Iran Daily 2009