TEHRAN: Iran has signed a preliminary agreement with Shell to work toward developing major oil and gas fields as it seeks to boost its output.
The deals open the way for Shell to carry out assessments at the South Azadegan and Yadavaran oil fields, both in southwestern Iran, as well as an offshore gas field near Kish Island in the Gulf.
Hans Nijkamp, a vice president at Shell, said the deal “opens a new chapter” for the Anglo-Dutch company in Iran.
“International markets remain under pressure but Iran’s return brings stability for the world’s energy provision as well as the country’s economic health,” he said at the signing ceremony.
Iranian oil officials did not comment on why a spokesman had earlier said the signing also involved France’s Total. Iran has estimated that the South Azadegan project alone could be worth some $10 billion.
The Oil Ministry says foreign capital and know-how are vital to expanding the country’s energy sector.
Total signed a preliminary agreement last month for a $4.8 billion (4.3 billion euro) project to develop an offshore gas field at South Pars — the first deal of its kind since international sanctions were lifted in January.
The deals open the way for Shell to carry out assessments at the South Azadegan and Yadavaran oil fields, both in southwestern Iran, as well as an offshore gas field near Kish Island in the Gulf.
Hans Nijkamp, a vice president at Shell, said the deal “opens a new chapter” for the Anglo-Dutch company in Iran.
“International markets remain under pressure but Iran’s return brings stability for the world’s energy provision as well as the country’s economic health,” he said at the signing ceremony.
Iranian oil officials did not comment on why a spokesman had earlier said the signing also involved France’s Total. Iran has estimated that the South Azadegan project alone could be worth some $10 billion.
The Oil Ministry says foreign capital and know-how are vital to expanding the country’s energy sector.
Total signed a preliminary agreement last month for a $4.8 billion (4.3 billion euro) project to develop an offshore gas field at South Pars — the first deal of its kind since international sanctions were lifted in January.
