PERGAS INVESTMENT TO IRAN
SHANA wrote, Managing Director of Pergas Consortium Colin Rowley says his consortium is ready to invest in Iranian petroleum industry, train workforce and transfer technology.
Rowley made the remarks in an interview with Shana on the sidelines of ceremony of inking of a Non-Disclosure Agreement (NDA) by National South Oil Company (NISOC) and Pergas Consortium.
He said his company comprises a chain of different oil industry professions and is ready to cooperate with Iranian petroleum industry in various domains.
He went on to say that foreign companies have welcomed investment in Iranian petroleum industry in the post-JCPOA era and said it is an honor for Pergas to be availed of the the opportunity for cooperation with Iran.
The Manager said the most important feature of Pergas is its focus on education and transfer of technology and due to the same reason, "we are serious to train oil industry experts in Iran in partnership with Sharif University of Technology."
The National Iranian South Oil Company has signed its first non-disclosure agreement (NDA) with a consortium of international companies, known as Pergas, for carrying out studies over two oilfields in Iran.
The consortium comprises 11 European, Canadian and Asian firms as well as the Sharif University of Technology and has signed the NDA for holding studies on Karanj (Asmari, Pabdeh, and Khami oil deposits) and Shadegan oilfields (Asmari and Bangestan reserves).
Based on the deal, the consortium will have 6 months to hand over the result of its studies on the fields to the NISOC. Pergas may submit its proposal for development of the fields sooner if it is ready.
Minister of Petroleum Bijan Zanganeh has spent a long time on investigation of the framework of NISOC's new framework of oil contracts.
Over 60 companies are currently in talks with the NISOC for cooperation with the company under the new framework of the contracts.
The deals consider development of four fields of Parsi, Karanj, Rag Sefid and Shadegan, including nine oil reserves, are specified for development based on the contract after announcement and confirmation of the Minister of Petroleum.
The nine reserves include Asmari, Pabdeh and Khami in Karanj field, three reserves in Asmari, Bangestan and Khami in Rag Sefid field, Asmari field in Parsi field and two reserves of Asmari and Bangestan in Shadegan field.
The four fields were selected for the purpose due to the recovery coefficient, enhanced recovery and integration of the reserves.
NISOC contracts are part of a basket of contracts that is operational in nature, while its purpose is development of reserves and using enhanced recovery methods.
|October, 15, 12:30:00|
|October, 15, 12:25:00|
|October, 15, 12:20:00|
|October, 15, 12:15:00|
|October, 15, 12:10:00|
|October, 15, 12:05:00|
GAZPROM - The parties discussed relevant issues related to bilateral cooperation, including the Baltic LNG project. Emphasis was placed on the priority measures aimed at developing a joint design concept (pre-FEED).
BHGE - U.S. Rig Count is up 11 rigs from last week to 1,063, with oil rigs up 8 to 869, gas rigs up 4 to 193, and miscellaneous rigs down 1 to 1. Canada Rig Count is up 13 rigs from last week to 195, with oil rigs up 8 to 127 and gas rigs up 5 to 68.
REUTERS - Brent crude futures had risen $1.02 cents, or 1.3 percent, to $81.28 a barrel by 0637 GMT. The contract dropped 3.4 percent on Thursday following sharp falls in equity markets and indications that supply concerns have been overblown. U.S. West Texas Intermediate (WTI) crude futures were up 80 cents, or 1.1 percent, at $71.77 a barrel, after a 3 percent fall in the previous session. WTI is on track for a 3.5 percent drop this week.
EIA - Brent crude oil spot prices averaged $79 per barrel (b) in September, up $6/b from August. EIA expects Brent spot prices will average $74/b in 2018 and $75/b in 2019. EIA expects West Texas Intermediate (WTI) crude oil prices will average about $6/b lower than Brent prices in 2018 and in 2019.