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Thailand’s PTTEP to Study Iran’s Changuleh

Source: www.gulfoilandgas.com 12/6/2016, Location: Asia

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National Iranian Oil Company (NIOC) and PTT Exploration and Production Public Company Limited (PTTEP) signed a memorandum of understanding on Tuesday to carry out preliminary studies of three oil fields in Iran.

Based on the agreement that the PTTEP signed with the National Iranian Oil Company (NIOC), it would have to study Changuleh – as well as Balal and Dalamperi oil fields - within six months.

The Ministry would then evaluate the Thai company’s findings and decide on whether to award the project’s development to the company.

Gholam-Reza Manouchehri, the NIOC deputy for engineering and development affairs, told reporters after signing the agreement with the PTTEP that several other international companies had also won agreements to study the three fields.

A similar agreement had earlier been signed with Norway’s DNO for studying Changuleh which sits on Iran’s border with Iraq in the western province of Ilam.

Manouchehri had previously said that the field could be linked to another nearby field named Azar.

Iran had previously announced that Azar, itself, was linked to Iraq’s Badra oil field. A domestic company – Sarvak Azar Engineering and Development Company – is already pushing ahead the development of the field with a target production of 65,000 barrels per day (bpd). The target production of Changuleh is 50,000 bpd.

Azar and Changuleh were discovered in 2005 as a result of explorations conducted by a consortium comprising Russia’s Lukoil and Norway’s Statoil. Both fields – together with Iraq’s Badra – are believed to hold an in-place reserve of about 3.5 billion barrels.

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