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MEOG Commentary MEOG
The new field is located around 60 km north of Assaluyeh and is 50 km in length with an an average width of 5 km.
Alluding to Iran’s already world-class gas reserves, Dehghan said: “If such a discovery takes place in another country, that would be taken very seriously.”
News of the discovery is a boost for Iran’s oil and gas sector, which has been reeling from the ongoing impact of sanctions, the latest manifes- tation of which was the announcement last week by China National Petroleum Corp. (CNPC) that it was withdrawing from the phase 11 devel- opment of the South Pars gas field.
Local media will play the two stories as a
positive for the opportunities they present for domestic upstream companies in gas, but with numerous large field developments struggling to make targeted progress without foreign partners, Eram is currently little more than a boost to gas reserves. Speaking to press, Dehghan said that the find had taken total Iranian gas reserves to 1,200 tcf (33.98 bcm), placing it second behind Russia with 35 tcm.
The discovery of these assets, if verified, is a significant feather in Iran’s upstream box, how- ever, given the current political climate, it is very unlikely that either will make a major difference to the country’s production profile in the short- to medium-term.
Oil minister Bijan Zangeneh presents Namavaran to gathered press.
The Eram gas field was also announced recently.
Week 45 13•November•2019 w w w . N E W S B A S E . c o m
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