Iran will start to negotiate development plans for the 26-billion barrel Azadegan oilfield with a Japanese consortium next week. Iran’s National Iranian Oil Co (NIOC) aims to finalize the deal by the end of the Iranian year on March 20, 2003.
In 2000, a Japanese consortium—led by Japan Petroleum Exploration Co (JAPEX) and Japan's Indonesia Petroleum Ltd (INPEX)—was awarded exclusive negotiating rights for Azadegan. The onshore field, whose revenues are projected to reach $100 billion, is hoped to reach pumping capacity by 2006.
Earlier this week a Japanese media reported that Japan’s Arabian Oil Company (AOC) will continue to tap Kuwait’s Khafji offshore oilfield, under a technical service contract finally endorsed by the Gulf Emirate's Supreme Petroleum Council (SPC). The deal replaces a concession agreement, set to expire January 4, 2003. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
