In a meeting with the Armenian Minister of Territorial Administration and Infrastructures, the Oil Minister stressed readiness of the Iranian gas network to start a gas swap from Turkmenistan and to increase gas exports to this country.
Iraq’s Acting Electricity Minister Adel Karim announced reaching an agreement with Iran on settling his country’s gas debts to the Islamic Republic, IRIB reported.
Ali Bahadori Jahromi, spokesman for the Iranian government, has praised the Oil Ministry’s efforts for ensuring uninterrupted natural gas supply during the winter, Shana reported on Wednesday.
Oil Minister Javad Oji says according to estimates, Iran needs some $80b investment in order to produce 1.4b cubic meters of gas, noting that the oil industry has brought the country over $43 billion of revenues in the previous Iranian calendar year (ended on March 20).
Iran has the equivalent of over 1.2 trillion barrels of oil and gas as a senior Oil Ministry official says the country will be able to tap those reserves for at least a century from now.
Iran Oil Minister Javad Owji announced that Tehran is prepared to trade natural gas and Liquefied Natural Gas (LNG) with members of the Gas Exporting Countries Forum (GECF) through various ways including swap, transit and other common methods.
Iranian Chairman of Iran-Iraq Chamber of Commerce Mr. Yahya Ale Eshaq says an Iraqi delegation is to visit Tehran to talk on ways of settling Iraq’s debts for export of energy and electricity.
Considering the new resource allocations for the development of the oil industry in the budget bill for the next Iranian calendar year (starts on March 21), the country’s crude oil and gas condensate production is expected to increase by 144,000 barrels per day (bpd) in the next fiscal year.
Iran Gas Engineering and Development Company (IGEDC) awarded the gas storage development project in Khangiran Field (Shurijeh D Reservoir) to MAPNA Group.
The CEO of the National Iranian Oil Company says talks for signing deal for import of gas from Turkmenistan are in the final stage and the talks for renewing contract for export of gas to Turkey are also underway.