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ICOFC's fields for foreigners based on Iran Petroleum Contract

ICOFC's fields for foreigners based on Iran Petroleum Contract

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Date: 24 December 2015 18:07

By Dalga Khatinoglu

One of major companies, offering about 30 percent of total offered oil and gas projects to foreigners in framework of new designed contact, called Iran Petroleum Contract (IPC), is Iran's Central Oil Fields Company (ICOFC).

Managing Director of ICOFC Salbali Karimi told Mehr News Agency on Dec.23 that the total value of offered projects is above 10 billion euro.

During last month, Tehran hosted 137 companies from 45 countries for a two-day conference, during which legal generalities of IPC were introduced. Iran has offered 50 hydrocarbon fields, of which 17 projects belongs to ICOFC.

Karimi said a daily average of 100,000 barrels of crude oil is currently produced in central oilfields of Iran and the figure is planned to double in two stages and reach 350,000 barrels per day by 2021.

Recalling that recoverable crude oil reserves in Iran’s central regions add up to a total of 10 billion barrels, the official said “moreover, a sum of 7 trillion cubic meters of recoverable natural gas reserves are deemed to be found in the area. However, due to the need for management of financial resources and costs, the number of active drilling rigs will decrease from 22 to 12 in the current year”.

According to detailed documents of IPC, obtained by Trend, the total oil in place of 9 onshore oil fields of ICOFC is above 16 billion stock tank barrel (BSTB) and the reserves of gas fields are above 55 BCF.

Oil fields

Oil in place

BSTB

Current Production

KBbl/d

Total Estimated Production

KBbl/d

API

1

Aban

0.138

9

To be proposed by contractor

9

2

Paydar

1.047

5.5

To be proposed by contractor

5.5

3

West-Paydar

0.952

28

To be proposed by contractor

28

4

Danan

3.738

8

To be proposed by contractor

8

5

Cheshmeh-Khosh

3.740

72

To be proposed by contractor

20-29

6

Dalpari

0.367

14

To be proposed by contractor

14

7

Naft-Shahr

0.580

5.5

To be proposed by contractor

5.5

8

Sumar

0.441

0.5

To be proposed by contractor

0.5

9

Dehloran

5.184

24

To be proposed by contractor

24

Total

16.187

166.5

Gas fields

Gas in place

TCF

Current Production

MCF/D

Total Estimated Production

MCF/D

Estimated

Condensate Production

(KBbl/D)

1

Sefid-Baghon

2.37

0

160

1.6

2

Sefid-Zakhor

8.23

0

353

3.53

3

Dey

1.75

0

180

1.8

4

Aghar-phase2

25.8

776

1500

1.5

5

Tange Bijar

8.17

247

353

1.7

6

Sefid-Baghon

2.37

0

160

1.6

7

Halegan

4.63

0

440

4.4

8

Sefid-Baghon

2.37

0

160

1.6

Total

55.69

1023

3306

17.73

Dalga Khatinoglu is an expert on Iran's energy sector and head of Trend Agency's Iran news service

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