Iran to Extend Deadline for Azar Oilfield Contract

Source: Tehran Times 4/16/2007, Location: Asia

Iran’s Oil Engineering and Development Co. announced that it would extend the Norwegian company Hydro Zagros’s deadline for signing a contract on development of Azar oilfield by two months. Hydro Zagros was to offer its master development plan (MDP) on Azar oilfield to the NIOC maximum by the end of March 2007.

Last May, Norwegian Ambassador to Iran Ole Kristian Holthe announced that Hydro Zagros was prepared to develop the Azar field.

The Norwegian ambassador, who was on a visit to Ilam Province, made the remarks during a meeting with Ilam Governor General Ali-Mohammad Azad.

Accompanying the ambassador at the meeting was Torgeir Kydland, managing director of the Hydro Zagros.

The total value to Iran and the district of Ilam of the oil reserves in the Azar field of the Anaran Block could presently be evaluated at a total of 10-12 billion dollars during the lifetime of the project. Kydland expressed his company’s readiness to enter into negotiations for the company to sign a development contract with the NIOC on the project. The Norwegian company was registered six years ago and is the lead contractor of oil and gas projects in this western province, said the envoy.


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