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Minister of Oil: Petropars is a symbol of national technology

  Minister of Oil: Petropars is a symbol of national technology

Minister of Oil in the signing ceremony of contracts to complete the development of the South Azadegan joint oil field and the construction of the South Azadegan oil field’s Central Treatment Export Plant (CTEP), assigne Petropars as one of the most important symbols of national technology in oil and gas industry.

According to the report of Public Relations and International Affairs of Petropars Group, Engineer Zanganeh said at the ceremony, which was held on July 20, that EOR operation in the Azadegan joint oilfield was extremely important and vital: " this contract is signed with one of the symbols of national technology,that is, Petropars Company.

He fact that It has gone through many difficulties to achieve these national symbols, said: The signify that Petropars has now done $ 23 billion in good international work is worth all the trouble.

Farzad gas field contract will be signed soon.

The Minister of Oil also about the details of the contract to complete the development of the South Azadegan joint oilfield said: with the implementation of this contract, our production capacity from the western fields of Karun has increased from 70,000 to 400,000 barrels per day over the past seven years. Our priority is to develop joint fields, the most important of which are the fields of the western Karun region and the South Pars Gas Field, and the contract for the Farzad Gas Field will be signed soon.

Managing Director of the National Iranian Oil Company: We are trying to provide the required funding for the project.

In another part of the ceremony, the Deputy Minister and Managing Director of the National Iranian Oil Company, stating that Azadegan oilfield is the largest joint oil field in Iran, stated that the oil in this field is more than 33 billion barrels and said: the major part of this oil amounting to 27 billion barrel is located in South Azadegan Joint Oilfield.

Referring to Petropars' heavy responsibility in the complementary plan for the development of South Azadegan field and the construction of the South Azadegan oil field’s Central Treatment Export Plant (CTEP) as the largest oil and gas processing unit in the country, Petropars Company as a general contractor will be included in the contract, and the NIOC will help finance the project, despite all the shortcomings it faces.

He added we strive to obtain the required credit in the form of bonds and other methods of financing so that Petropars can fulfill its contractual obligations.

CEO of Pedec: It is expected  Petropars to pay special attention to EOR.

The Chairman of the Board and CEO of the Petroleum Engineering and Development Company, referring to the completion of about 67% of the development of South Azadegan  joint oilfield, said: The expectation from Petropars is to complete the remaining amount of the project and this experienced company is expected to proceed increasing the EOR.

Dr. Dehghani added: "South Azadegan Joint oilfield as become a suitable toehold for the presence of Iranian companies both in the field of contracting and in the field of domestic equipment manufacturing, and I hope in the future, the achievements of developing this field by benefiting from the power of knowledge-based companies and paying more attention to EOR  methods."

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Established in 1998, Petropars Ltd. (PPL) was founded in order to contribute towards the development of Iran’s vast energy resources PPL specializes as a developer of exploration exploitation and production in upstream projects... Read more