Page 17 - MEOG Week 29

MEOG n e W s in B rie F MEOG

P o L i C y Promotion Organization of Iran’s Arab- pipelines, 45 km of communication pipelines
African Affairs Office Farzad Piltan, the and 65 km of transmission links.
Iran: Oil Ministry to put decline in exports is due to the lack of direct plant to the West Karun pumping house and
The latter will run from the new processing
contacts between Iranian and Kuwaiti
energy proposals business leaders, as well as obstacles to visa NGL 3200.
issuance for small-scale exchanges, IRNA
PEDEC said the work was worth a total
Zanganeh made the comments in a media reported. of $1.26 billion. Increasing production from
meeting on the sidelines of a meeting between Iran’s exports to Kuwait in the last fiscal South Azadegan carries a cost of $961 million,
the Oil Ministry officials and the Parliament year (ended March 19) stood at $180 million, while construction of the processing facility
(Majlis) Energy Committee. indicating a 26.87% drop compared with the will cost $300mn.
One of the stated documents is a year before (March 2018-19). enerGyVoiCe
strategy for handling fuel consumption FinanCiaL triBune
and transportation for the prospect of the Iran Oil Ministry to ink 9
Iranian calendar year 1420 (which starts in
March 2041), which is an interdepartmental C om Panies contracts with domestic
deed in which the optimization of cars, the
improvement of the structure of intra-city Petropars signs South firms
transportation and the type of cars that are
built are the main concentration, according to Azadegan production boost Iranian Oil Minister Bijan Namdar Zanganeh
the official. said his ministry will sign nine contracts with
Zanganeh stated, “Other documents are Petropars has signed a contract to develop domestic companies in the oil industry in the
regarding the gas supply and demand, as well the South Azadegan oil field, with Petroleum near future.
as the production of oil and petrochemicals Engineering and Development Co. (PEDEC). “Soon, nine contracts for the maintenance
up to the 1420 horizon”. The first phase will involve boosting and enhancement of oil production (EPC/
The official stated that one of the most production to 320,000 barrels per day of oil. EPD) will be signed with Iranian companies
significant areas that the Energy Committee Current production is 140,000 bpd, up from and the Oil Research and Technology Fund
is completely highlighting is the optimization 45,000 bpd in 2013. The second phase will add will be activated,” Zanganeh said on Monday
of energy consumption in liquid and gas fuels, another 280,000 bpd. on the sidelines of a ceremony to sign a
and in this concern, it was decided that four South Azadegan is 80 km west of Ahvaz, contract for completing the development of
papers will be acquiesced by the ministry to near the Iraqi border. The Iranian company South Azadegan Oilfield
the committee and the committee will decide said the oil in place figure for the field was He said the production capacity of
the final version of the documents. around 25.3 billion barrels, with recoverable petrochemical products and the Persian Gulf
menaFn resources of around 1.7 billion barrels. Star refinery will increase as well.
Petropars, a unit of National Iranian Oil According to the minister, 25 million tons
Iran’s Q1 exports to Kuwait Co. (NIOC), took over management of the will be added to the country’s petrochemical
South Azadegan field in November 2018.
production capacity this year, adding this
drop 40% to $31m Petropars’ CEO Hamid Reza Masoudi signed would be marked as the largest output growth
PEDEC’s CEO Touraj Dehghani and
in the history of Iran’s petrochemical industry.
A total of $31 million worth of non-oil the deal, in a ceremony observed by Iranian He also said the second petrochemical leap
commodities were exported from Iran Minister of Petroleum Bijan Zangeneh. of the country will reach fruition almost by
to Kuwait during the first quarter of the Work on the first phase will involve 2021 and the sector’s output would cross 100
current fiscal year (March 20-June 20), to building a processing facility. This should take million tons per year from currently 66 mt/y.
register a 40% decline compared with the 30 months to complete. mehr neWs
corresponding period of last year. PEDEC will drill 35 wells, install 50
According to Director General of Trade downhole pumps, build 328 km of flow

Week 29 22•July•2020 www. NEWSBASE .com P17