Report: Japan can return to Iran’s Azadegan
Japanese companies could return to a development project in the South Azadegan oilfield in southwest Iran, Kyodo News has quoted a senior Iranian energy official as saying.
The report comes as a high-level Japanese trade delegation is visiting Tehran to discuss revitalizing economic ties. Kyodo, citing the unnamed official at the Iranian Ministry of Petroleum, did not give further details.
Japan’s state-owned Inpex Corp. withdrew from the South Azadegan development project in 2010 due to US pressures.
Azadegan is the world's third largest oilfield with in-place reserves of about 33.2 billion barrels and recoverable resources of about 6 billion barrels.
Iran shares Azadegan with Iraq which started producing 210,000 barrels per day from the field in April 2014.
In 2009, the National Iranian Oil Company signed a $2.5 billion contract with the state-run China National Petroleum Corporation (CNPC) but had to cancel it due to the Chinese side’s repeated delays.
CNPC was to produce 320,000 bpd of oil and 197 million cubic feet per day of gas within 52 months from South Azadegan and ultimately raise it to 600,000 bpd.
In June, an energy official said Iran had accelerated drilling of South Azadegan in order to catch up with its western neighbor in production.
Executives from 21 companies, including oil, gas and automotive industries, are accompanying Japan’s State Minister of Economy, Trade and Industry Daishiro Yamagiwa in his two-day visit to Iran.
They hope to grab a foothold in the world’s biggest market closed to outside business for years under sanctions.
Minister of Petroleum Bijan Zangeneh said Sunday Japan can boost crude oil and natural gas imports from Iran to the levels before sanctions were stepped up against Tehran.
Zangeneh said he would welcome Japanese firms returning to development projects in Iranian oilfields.
Japan bought 30% of its oil from Iran before the sanctions slashed the imports to around 5%.
VPNs responsible for 1 GW of Iran’s electricity use: Expert
Report blames gasoil exports for shortage at Iranian power plants
Iran to open 6 GW of new power capacity by next summer
Missile fired from Yemen hits Tel Aviv
VIDEO | Iran emerging as aviation service hub through innovative solutions
Iraq exhuming remains of 100 Kurdish women, children killed by Saddam
Panama rejects talks with US over canal control
HTS rulers name al-Qaeda operative as Syria's new spy chief
Iran voices concern about rising insecurity, violence in Syria
VIDEO | Karachi sit-in amplifies nationwide call for justice for Parachinar victims
Iran strongly condemns Israeli bombing of Yemen's civilian infrastructure
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
