IRAN & INDIA CONTRACT: $3 BLN
Iran has agreed a $3 billion contract with a consortium of Indian companies to develop the Farzad B gas field in the Persian Gulf, according to the Mehr news agency.
Saeed Hafezi, the director of the Falat Ghare oil company, said the lifting of sanctions means the consortium can resume development, according to Mehr.
The managing director of ONGC Videsh, the Indian company heading the partnership, said they had not yet been notified about the development.
"We have not received any communication from Iran on granting us the development rights," N.K. Verma told Reuters.
Verma said that ONGC Videsh, the overseas investment arm of Oil and Natural Gas Corp, had visited Iran recently and that, under the proposal submitted by the Indian companies, the first phase of development of the Farzad B gas field would cost around $3 billion.
The goal of developing the first phase is to produce one billion cubic feet of natural gas each day, Hafezi said in the interview with Mehr.
The agreement between Iran and six world powers last July has cleared the way for an easing of sanctions, raising prospects for the gas field that is estimated to hold initial in-place reserves of 12.5 trillion cubic feet, with a lifetime of 30 years.
|October, 18, 08:00:00|
|October, 17, 10:35:00|
|October, 17, 10:30:00|
|October, 17, 10:25:00|
|October, 17, 10:20:00|
|October, 17, 10:15:00|
MEOG - Judaimi highlighted that the closer cooperation between Saudi Aramco and Indian energy entities is reflected in the partnership with RRPCL and ADNOC on the Ratnagiri mega-refinery and petrochemicals complex in Maharashta this year. He noted that nearly $2 billion in material-service sourcing with Indian companies to date; and the opening of the Aramco Asia India office in 2017.
REUTERS - The United States must not determine European energy policy or decide whether Germany buys Russian gas, a top German diplomat said on Tuesday.
FT - “Total has great ambition in this country, we want to be the largest foreign oil and gas player here,” the company’s chief executive Patrick Pouyanné said on Monday at the launch of a factory outside Moscow.
PLATTS - Petrobras is to form two joint venture companies with China National Petroleum Corp. (CNPC) to complete construction of a refinery and revitalize four mature fields in the offshore Campos Basin, the state-owned Brazilian company said