Norwegian oil company eyes cooperation with Iran in Caspian Sea

  23 April 2018    Read: 1193
Norwegian oil company eyes cooperation with Iran in Caspian Sea

Norway’s Offshore Resource Group AS (ORG) has submitted outcome of its study work on Iran's northern oil field of Sardar-e Jangal and three more blocks in the Caspian Sea.

The Norwegian company presented its proposals on development of the blocks 24, 26 and 29, as well as reconstruction of Amir Kabir rig, Shana oil news agency reported on April 21.

National Iranian Oil Company (NIOC) and ORG inked an agreement on the study of Sardar-e Jangal oil field, as well as the three blocks, in November 2017.

At a meeting in Tehran on April 21, the Norwegian company called for cooperation in the development of oil fields in the Caspian Sea.

NIOC Deputy Head Gholamreza Manouchehri, for his part, touched upon an agreement with Azerbaijan on the development of oil blocks in the Caspian Sea. He stressed that cooperation with the Caspian littoral states is of high significance for Iran.

Reportedly, Iran and Azerbaijan are planning to establish a joint venture for cooperation in oil production in the Caspian Sea

During Iranian President Hassan Rouhani's March visit to Azerbaijan, the two countries inked eight agreements on cooperation in various sectors, including energy and the Caspian Sea.

During the visit, Energy Minister of Azerbaijan Parviz Shahbazov and Minister of Oil of the Islamic Republic of Iran Bijan Namdar Zanganeh signed "The Memorandum of Understanding on Joint Development of Relevant Blocks in the Caspian Sea between the Ministry of Energy of the Republic of Azerbaijan and the Ministry of Petroleum of the Islamic Republic of Iran".

However, Iran and Azerbaijan have not disclosed the names of the fields, so far.

More about: Iran   Azerbaijan