Belarus-Iran joint venture to develop Azagedan oil field
The Belarus-Iran joint venture Belpars Petroleum Company Ltd (BPC) is finishing the exploration of oil layers at the Jofeir oil field and in the near future intends to start developing new layer Fahilan in Azagedan oil field, BelTA learnt from the Belorusneft press service.
The relevant agreement was reached during the visit of the top executives of the National Iranian Oil Company (NIOC) and its affiliates to the Belarusneft Company. The Iranian delegation was led by Deputy Oil Minister and Managing Director of the National Iranian Oil Company Seifollah Jashnsaz. The negotiations resulted in signing a memorandum of the further cooperation.
Jofeir production testing is scheduled for H1 2009. Two wells at the Iranian oil deposit were restored after a thorough overhaul. By the end of the year, two more wells, test and production ones, will be developed.
Belorusneft signed a service contract on the development of Iranian oil fields in Tehran in September 2007. BPC was set up then. The Jofeir deposit is estimated at 2.1 billion barrels. The Azagedan oil field has four productive layers, Sarvak, Kazhdomi, Godvan, and Fahilan. The field holds more than 35 billion barrels of oil.
Founded in 1966, the Belorusneft Company is part of Belneftekhim. It prospects and develops oil fields, drills wells, extracts oil and associated petroleum gas. Over the last two years joint ventures were set up in Russia, Venezuela and Iran.
