"According to an overall understanding with Turkey, Ankara will cooperate in the development of 3 phases of South Pars Oil and Gas Field in exchange for demanding and receiving more gas supplies from Iran," Iranian Deputy Oil Minister Akbar Torkan told FNA
He pointed out that Iran waits for the Turkish side to announce its viewpoints before the two countries can start negotiations over the development stages of these three phases.
"We have told them that if they take part in the development of the said 3 phases, then we will earmark half of the produced gas in these 3 phases to gas supplies to Turkey that equals 23 million cubic meters on a daily basis," Torkan explained, referring to the development of phases 22, 23 and 24 of the South Pars Gas Field.
He also said that the development of the 3 phases of South Pars Gas Filed will take place on the basis of a buyback agreement and the Turkish side will be in charge for financing the project.
The remaining gas has been allocated for exports to Europe, Torkan added.
Tehran and Ankara have agreed to increase gas exports to Turkey to 23 mcm per day, an Iranian oil official said on Sunday.
News ID 8143
