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 View Rate : 2098 #            News Code : TTime- 197876        Print Date : Monday, June 29, 2009


Malaysia, China to develop Iran’s Resalat oilfield
Tehran Times Economic Desk

TEHRAN – Malaysian Amona Company, China Oilfield Services Limited (COSL), and China National Offshore Oil Corporation (CNOOC) will cooperate in the development of Resalat oilfield, the Iranian Offshore Oil Company’s managing director said here on Sunday.

The Mehr News Agency quoted Mahmoud Zirakchianzadeh as saying that Iran and Malaysia’s Amona Company signed a one-billion-euro ($1.4 billion) deal to develop the Resalat oilfield last year.

Amona has in turn reached preliminary agreements with the Chinese COSL to conduct drilling operations and with CNOOC to establish the required marine installations, Zirakchianzadeh stated.

“Negotiations with a Chinese bank are underway to finance the project,” the IOOC director said, predicting the agreements would be finalized within the next month.

By implementation of this development plan the daily output capacity of the Resalat oilfield will be raised up to 47,000 barrels from the current figure of 12,000.

The Malaysian company agreed to finish the project within three and a half years.

The Resalat oilfield is located about 90 kilometers off Lavan Island in the Persian Gulf.

Iran signed a $16 billion deal with Malaysia’s SKS in December 2007 to develop the Golshan and Ferdows gas fields in the southern province of Bushehr.

National Iranian Oil Company (NIOC) and China National Petroleum Corporation (CNPC) signed a 5-billion-dollar contract on June 3 for the development of phase 11 of the South Pars gas field


 

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