Turkey signs E&P agreement for South Pars field | Oil & Gas Journal

Doris Leblond
OGJ Correspondent

PARIS, Jan. 8 -- Turkey's Energy Minister Taner Yildiz and Iran's Oil Minister Masoud Mirkazemi recently signed a joint gas exploration and production agreement for Iran’s South Pars field.

That offshore field is estimated to hold 450 trillion cu m of natural gas—47% of Iran's total reserves. The joint project is to begin within next weeks. Turkey is expected to invest $4 billion to produce 35 billion cu m.

The agreement also confirmed transportation of Iranian gas to Europe via Turkey and extended an earlier protocol of agreement to carry Turkmen gas to Turkey via an Iranian route. Turkey also wants Iranian gas for the Nabucco gas line.

More in Home

Oilfield Service Technology Pitfalls And how to avoid them.

Oilfield Service Technology Pitfalls And how to avoid them.

Oilfield service is a tricky business for a number of reasons. But fluctuating demand driven by commodity prices are the root cause behind a number of the challenges executives in this industry face

190912 Rystad Production Chart

Rystad: US shale production to reach 14.5 million b/d by 2030

US shale production will peak at 14.5 million b/d around 2030, Rystad Energy forecast, saying US light, tight oil (LTO) represented less than 1% of world oil supply 9 years ago but represents close to 10% of total world oil supply in 2019.

190912 Equinor Tordis Vigdis

Tordis, Vigdis facilities to operate 34 years beyond previous consents

Equinor has been granted consent by the Norwegian Petroleum Directorate to use the facilities on Tordis and Vigdis fields in the North Sea beyond their respective December 2019 and March 2024 consents.

190912 Equinor Bahamas Spill

Equinor progresses with oil spill recovery in the Bahamas

Equinor is progressing with oil spill recovery at the South Riding Point terminal in the Bahamas after the impact of Hurricane Dorian. An onshore team has started to recover oil and move it into tank storage.

190911 Wgc Equus Schematic

Western Gas aiming for 2024 for start of Equus gas production

Western Gas Corp. reported that its Equus gas project offshore Western Australia is on track for coming on stream in 2024. The estimate follows completion of an “upstream-to-LNG development plan” and the commencement of project financing and partnering.

190910 Eia Steo Chart

EIA continues to lower oil price, demand growth forecasts

In its September Short-Term Energy Outlook, the US Energy Information Administration reduced its 2019 Brent crude oil price forecast to $63/bbl, which is $2/bbl lower than in its August STEO.

190910 Suncor Cogen Coker

Cogeneration due at Suncor oil sands plant

Suncor Energy Inc. will invest $1.4 billion to replace two coke-fired boilers with gas-fired cogeneration units in a project that will cut greenhouse-gas emissions from steam production at its Oil Sands Base Plant by 25%.

190909 Noble Leviathan Lift

Two main topsides lifted onto Leviathan platform

Heerema Marine Contractors’ Sleipnir semisubmersible crane vessel, said to be the world’s largest, completed a 15,300-tonne lift, installing the topsides for Noble Energy’s Leviathan development in the Mediterranean Sea.

190909 Equinor Dorian Terminal

Equinor addresses hurricane-damaged terminal in Bahamas

Equinor continues the work with resources from the Bahamas, the US, and Norway to respond to the effects of Hurricane Dorian on the South Riding Point terminal on Grand Bahama Island and the oil spill at the terminal site and nearby.

190906 Cooper Annie Map

Cooper Energy-led JV makes gas discovery offshore Otway

The 50-50 joint venture of Cooper Energy Ltd., Adelaide, and Japanese entity Mitsui E&P Australia has reported a natural gas discovery with the Annie-1 wildcat in permit Vic/P44 in the Victorian section of the offshore Otway basin.

190905 Cooper Bass Strait Map

Cooper Energy awarded Bass Strait permit

Cooper Energy Ltd., Adelaide, has been awarded an offshore exploration permit in a central part of the Victorian Gippsland basin surrounded by major producing oil and gas fields.

190905 Cheniere Train2

Cheniere takes delivery of Corpus Christi Train 2

Cheniere Energy, Houston, reported the substantial completion of Train 2 at the Corpus Christi Liquefaction (CCL) project in Corpus Christi, Tex., was achieved Aug. 28.

190905 Santos Dorado3 Map

Dorado-3 appraisal well confirms hydrocarbons in three reservoirs

Wireline results in the Santos Ltd.-operated Dorado-3 appraisal well in the Bedout subbasin of northwest Western Australia have confirmed hydrocarbons in the three main reservoirs at the field first discovered in July 2018.

Suction anchor and template from Aker Solutions in Sandnessjoen passing Helgelandsbroen.

Equinor brings Snefrid Nord gas field on stream

Equinor and partners on Sept. 1 started production from Snefrid Nord natural gas field, the first discovery tied back to Aasta Hansteen field, in the Norwegian Sea, setting a new depth record on the Norwegian continental shelf.