Iran calls for more joint offshore projects
Iran expects to increase output by 20% in the current Iranian calendar year from offshore oil fields shared with neighboring countries.
TEHRAN -- Iran expects to increase output by 20% in the current Iranian calendar year from offshore oil fields shared with neighboring countries.
Mahmood Zirakchianzace, managing director of National Iranian Offshore Oil Co. (NIOOC) said his company participates in 13 oil and gas fields shared by its neighbors in joint Gulf waters.
The 20% increase, he told Iranian news service Shana, would come from raising output at the Hengam oil field and implementation of a plan to lift production from the Salman field by year end.
He added that NIOOC has proposed to its neighbors further participation in joint offshore field development schemes, as opposed to standalone projects either side of the median line. This, he claimed, would lead to improved recovery from the fields, and lower investment and production costs.
Iran shares offshore fields with Iraq, Kuwait, Saudi Arabia, the UAE, Qatar, and Oman.