Petronas, Shell to Submit Azadegan Report
Malaysia's Petronas and Royal Dutch Shell are to submit their final reports on Azadegan oil field to National Iranian Oil Company (NIOC), the CEO of Petroleum and Engineering Development Company (PEDCO) said.
Nouroddin Shahnazizadeh, CEO of PEDEC, said France's Total and Japan's Inpex had already presented the findings of their studies on Azadegan to NIOC.
Azadegan, which is Iran's largest oil field, is to be developed under new contractual frameworks known as IPC. The field, which Iran shares with Iraq, is to be put out to tender.
Total, Inpex, Petronas, Shell and Iran's Kish modern oil energy development company have already signed MOUs with NIOC with a view to studying this jointly owned field.
Azadegan has the capacity to produce more than 150,000 b/d of oil. After development, its recovery rate is expected to grow further.
Positive Step in Iran-France Ties
Iran's President Hassan Rouhani met with the CEO of France's Total, Patrick Pouyanné, in Tehran after a landmark gas deal was signed.
During the meeting on July 3, Rouhani said the contract for the development of Phase 11 of South Pars gas field between National Iranian Oil Company (NIOC) and a Total-led consortium which also includes China's CNPC and Iran's Petropars would be in line with the development of economic and technological cooperation between Iran and France.
"Iran and France have always maintained good relations and cooperation with each other," he said.
Rouhani highlighted France's position in energy economy and technology, saying: "The signature and implementation of this agreement will be a positive step on the path of further development of economic and technological cooperation between the two countries."
He said that his administration had sought to pave the way for further economic cooperation between Iran and major IOCs in the wake of the implementation of Iran's nuclear agreement with six world powers.
Rouhani said the deal with Total was concluded, thanks to the political will shown by Iran and the six powers.
He recalled his visit to Paris early last year, saying: "In Paris, the two officials showed political will for the development of relations, and important agreements were signed between the two countries to expand ties and cooperation."
Rouhani said Total was widely expected to be the first company to start cooperation with Iran.
"Our policy lies in cooperation with big companies like Total," said the president.
"Currently, some $200 billion of projects in oil and gas sector are ready to receive investment. Major foreign companies can contribute to these projects."
"We have to make efforts to reach peace, tranquility and stability in the region with a view to economic progress and development, because scientific cooperation for development could help fight on ignorance and poverty, which are the main roots of terrorism growth and expansion," said Rouhani.
He also expressed hope that Iran and France would further cooperate in the oil, gas and petrochemical sectors and take steps for further development of ties.
NIOC to Introduce Projects to WPC
National Iranian Oil Company (NIOC) plans to introduce opportunities for investment at the 22nd World Petroleum Congress (WPC), which is scheduled to be held in Istanbul from July 9 to 13, an NIOC official said.
Ebrahim Taleqani, head of NIOC research and technology, said the company would introduce opportunities for investment, exploration blocks and equipment manufacturing.
"As in the previous rounds of the Congress, NIOC will be active in the Congress itself, its exhibition and its petroleum industry youth committee," he said.
Taleqani, who will lead Iran's delegation to WPC 2017, said NIOC and National Iranian Gas Company (NIGC) would jointly have 280 square meters in the exhibition. He said that 23 articles from Iran had been accepted.
He said that Iranian experts would be informed of the future of energy, future policy and plans of big oil companies and the future of oil trading.
NPC Ready to Introduce Foreign Investors
The head of investment affairs at the National Petrochemical Company (NPC) has said that the company would be ready to introduce foreign investors willing to finance petrochemical projects in Iran.
Hossein Ali-Morad said the presence of investors in Iran's petrochemical industry would not be limited to the operation of projects in this sector.
"Manufacturing companies will be also able to take action with regard to attracting fresh investment and present portions of their shares to companies applying for domestic and foreign investment, and then will spend new financial resources achieved from foreign investment in operating their development projects," he added.
Ali-Morad said: companies from Turkey had expressed readiness for investment in collaboration with petrochemical companies in Iran.
"If need be, companies willing to invest will be introduced to them," he added.
"Using the potential of foreign investment for joint cooperation will lead to the signature of new agreements that could bring about consumption security for us," said Ali-Morad.
Noting that exports are one of existing challenges for petrochemical companies, he said: "All petrochemical companies will be able to get a share of current atmosphere for investment in the country."
"For future investments and removal of financial problems of production we have to benefit from hard currency resources that enter the country for development," he said.
Iran Starts Petchem Exports to Russia
Iran's petrochemical plants have started exporting polymer and chemical products to Russia's big market, the director of production control at National Petrochemical Company said.
Ali-Mohammad Bosaqzadeh referred to growing demand by different countries to purchase petrochemical products from Iran, saying: "Besides traditional customers, several countries have applied to sign contracts to buy petrochemical products from Iran."
"Some petrochemical plants have shifted their market from traditional customers to Russia and this is a good new trend for boosting exports," he said.
Assadollah Asgarowladi, head of Iran-Russia Joint Chamber, underscored the strategic importance of Tehran-Moscow relations, saying: "This country severely needs to import petrochemical products, and appropriate cooperation between our country's producers of petrochemicals needs to be planned for boosting exports to Russia."
He said petrochemical production was not lucrative in Russia, adding that the Russian market was suitable for Iran to export petrochemical products.
"Our petrochemical exporters should take part in exhibitions held in Russia and enter talks with potential Russian buyers of petrochemicals," he said. "Over recent years, the proper presence of our exporters in petrochemical exhibition in Russia has led to good contracts. We hope to see good contracts for petrochemical industry this year, too."