Reports say that Iran’s development operations on oil fields the country shares with Saudi Arabia have stopped.
Currently activity at three of the fields, Farzad, Esfandia, and Arash, is frozen. The Naitonal Oil Company has explained the reasons for doing so.
The affairs of the entire joint fields of the country are determined with the exception of Farzad-b and Esfainyar, said Roknoddin Javadi, CEO of Iran’s National Oil Company.
He also stated that the two mentioned fields are being discussed with entrepreneurs.
To fully expand the Esfanyar oil field 5 to 7 hundred dollars is needed. Should that be3 done, the field will produce 12 thousand barrels of oil per day.
Although contract was signed to develop the Farzad-b as soon as possible last year, the process is not very slow, so much so that the drilling operations and construction of maritime structures have completely stopped.
The Arash gas field holds more than 1 trillion m3 natural gas and 310 million barrels oil. It is situated to the north-west of the Persian Gulf and is shared by Iran, Kuwait, and Saudi Arabia.
The two neighbor countries signed a consortium last year to tap into the field whereas Iran has not yet found the monetary sources to fund a project to do the same.