Posted on 01/01/2012 10:13:25 PM PST by SunkenCiv
Iran plans to increase production at the Forouzan oilfield, which is shared with Saudi Arabia, by 40 percent by the end of the next calendar year (March 20, 2013), Iran Offshore Oil Company (IOOC) managing director said.
"Some 100 kilometers seabed pipeline has been laid and related platform will be installed in the middle of the next year," Mahmoud Zirakchianzadeh added.
Forouzan development plan is aimed at extracting 300 million barrels of oil in a 25-year period.
Iran will also sign a contract with foreign firms on developing its Esfandiar offshore oilfield, which is associated with Saudi Arabia, Zirakchiyanzadeh said.
The official added that currently several international companies have expressed readiness to finance the field, the Mehr news agency reported in September.
"Negotiations are underway with these companies and a contract will be inked this year," he noted.
He further explained that the country needs some 400 million euros to develop the oilfield.
Iran has attached the priority on boosting gas production capacity from its joint oilfields with Qatar and Saudi Arabia, Oil Minster Rostam Qasemi said.
Iran sits on the world's second largest natural gas reserves after Russia and is trying to grow its gas production by increasing foreign and domestic investments, especially in its South Pars gas field.
The field is shared by Iran and Qatar. The Iranian share, which is divided into 29 phases, has about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.
(Excerpt) Read more at tehrantimes.com ...
Well this is curious, as supposedly Iran and S.A. hate each others’ guts, Islam-wise. One mostly Shiite, the other mostly Sunni. The cat marries the dog?
Yeah, well, they didn’t discuss it, Iran is just going ahead and doing it. Despite sanctions, Iran pumps out and sells lots and lots of crude.
I don’t grok what this “joint oilfield” stuff is anyhow. It’s either in Iran or it’s in Saudi Arabia. You’d think S.A. would complain if Iran is pumping oil out of S.A. located wells.
I believe they even gave a graphic look at the desired future in the Denver Airport murals that have been removed. Just my opinion.
None of this makes sense. Iran and the Saudis are effectively at war. If the Saudis are in it that means Saudi Aramco is involved somehow. Does not compute.
The Marcellus Shale (2nd largest current gas play in the US) has an estimated 500 trillion cu ft of natural gas, which is also about 14 trillion cu M. The recoverable reserves though will be quite a bit less.
It's in the Persian Gulf, straddling their territorial waters.
An individual oilfield is best managed as a unit -- because it essentially constitutes one "pool" of oil. If the field straddles the border, it would be best managed jointly.
I think it is off shore, perhaps in International waters. Would this be like North Sea oil? We will probably get into the same issues as the Arctic ice melts and the US, Canada and Russia start going after the offshore oil up there.
Business is business. Plus, I would imagine the Saudis would choose Iran over the U.S. Things are going to gel more as the failed plans/attempts to destroy Israel evolve. Our Muzzie/Marxist in the WH said he was a unifier and he's proving correct - it's just not the unification folks had in mind when he said it.
>>>”Plus, I would imagine the Saudis would choose Iran over the U.S.”<<<
Yes.
It isn’t a cat & dog issue. It is an issue of one being an official US ally & the other officially isn’t.
Also, even Shi’ites win over Sunnis, even Wahhabis, when it compares to ‘infidels’! Never mind the fact that they are somewhat neighbors too, in that critical region..
The US will continue to be an outsider.
That’s it, exactly.
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