BELARUS NEWS AND ANALYSIS

DATE:

05/09/2007

Iran, Belarus sign agreement for development of Jofeir oil field

Iran and Belarus on Wednesday signed a contract for development of Jofeir oil field.

Iran's Oil Development and Engineering Company (Karfarma) and a consortium comprising the Iranian Petro Iran Company and the Belarus company, Belarus Oil, were signatories to the contract, which was signed in the presence of the caretaker of oil ministry Gholam-Hossein Nozari.

Director of the project for development of Jofeir oil field undertaking by Oil Development and Engineering Company Naji Saadooni told the meeting that the first phase of the project is expected to result in production of 15,000 bpd oil.

Saadooni said that in the second phase oil would be obtained from the field to the ceiling of 25,000 bpd.

He said the oil yield of the first phase of the project would be delivered to Darkhoein field for refining.

The first phase of the field is to cost dlrs 250 million while the second phase dlrs 200 to dlrs 250 million, said the official, adding that the cost would be determined in a tender.

Saadooni said the in situ gas reserves of Jofeir oil field are 2.1 billion bpd and it is to produce 170 million bpd oil on a 25-year time.

Source:

http://www2.irna.ir/en/news/view/menu-234/0709054831204109.htm