Iran to Sign Contracts on Development of 3 Oil, Gas Fields Soon

Addressing a meeting of high ranking oil industry managers with media representatives, the deputy oil minister for planning and supervision of hydrocarbon resources said, "One aspect of the oil industry strategy includes focusing on exploration in border areas."

"Exploration is underway in surrounding areas of the shared fields, like Yadavaran and Azadegan oil fields," he added.

"In the offshore sector, all exploration activities are concentrated in border areas, while in the onshore sector 67 percent of explorations are underway in border areas," Khojasteh Mehr told the meeting.

Stating that 12 oil and gas fields, including 3 shared and 9 independent oil and gas fields, were discovered last year; the official said accumulated discovered oil and gas reserves stand at 9 billion barrels of oil equivalent.

"In addition, two billion barrels of oil has been discovered in Sardare Jungle oil field in Caspian Sea waters", the official noted.

"Up to now 52 oil and gas formation have been identified in the county and further information will be announced upon the completion of explanatory activities."

Elsewhere in his remarks, the deputy oil minister said drilling activities had doubled in shared fields, adding that two years ago just 26 drilling rigs were active in shared fields but their number has reached 53 now, showing a great revolution in drilling activities.

During the last visit to the Research Institute of the Petroleum Industry by Supreme Leader of Islamic Revolution, oil minister promised to determine situation of all shared oil and gas fields, which subsequently led to signing 11 development contacts, worth 15 billion dollars, in last year.

The situations of 98 percent of shared fields have been determined and the figure rise to 100 percent when it is related to onshore shared fields.

He also said that during the last year shared oil and gas fields' output rose by 20 and 22 percent respectively.
irna/281