PEDCO to Team Up with Foreign Firms
The CEO of Petroiran Development Company (PEDCO) has announced agreements with international partners to operate oil projects under new-style contracts.
“We are ready to implement projects within the framework of the new model of oil contracts,” Roham Qassemi said, adding that PEDCO has already reached basic agreements with its international partners.
Regarding PEDCO’s future plans, he said: “For the time being, the focus of our activity is in offshore areas. Our strategy for the moment is not to be present in onshore projects.”
Asked about financial restrictions faced by PEDCO for operating megaprojects, he said: “Of course we are seeking to attract financial resources for operating small and medium-sized projects within the framework of new oil contracts.”
PEDCO is one of 11 companies qualified by the Iranian Ministry of Petroleum for exploration and production (E&P) activities.
National Iranian Oil Company (NIOC) offers a basket of contracts including buybacks, EPCF and new-style contracts for oil and gas projects.
Iranian companies would be authorized to steer small and medium-sized projects and have foreign partnership. Large fields would be awarded to foreign companies that will be required to have an Iranian partner.
SPM's Swivel Construction Indigenized
The Iranian Offshore Engineering and Construction Company (IOEC) has successfully built product swivel, which is a complicated and sensitive part in Single Point Mooring (SPM).
SPM is a floating buoy/jetty anchored offshore to allow handling of liquid cargo such as petroleum products for tanker ships.
The design and construction of the part was monopolized by a limited number of world companies. It was among the items needed direly by Iranian oil industry but was subject to sanctions.
The IOEC said due to international sanctions the manufacturer of the swivel product refused to supply it to the company, while it was largely needed for the export of gas condensate.
The swivel product was manufactured domestically after a series of designing and construction procedures.
Iran, Finland to Cooperate in Oil Industry
Iran’s Deputy Minister of Petroleum for International Affairs and Commerce Amir-Hossein Zamaninia and Finnish Deputy Minister for Foreign Trade and Development Cooperation Peter Stenlund have called for bilateral cooperation in oil industry.
Zamaninia told the Finnish guest that the Dutch have favorable technology in reconstruction and renovation of refinery, gas gathering, LNG plants and offshore facilities and are ready for cooperation in the field at a competitive atmosphere.
He said Finland will receive its crude oil and natural gas from Russia, having two refineries whose combined refining capacity is 350,000 b/d.
Finnish President Sauli Niinisto visited Iran at the head of a politico-economic delegation at the invitation of President Hassan Rouhani.
Turkey, Iran Discuss Gas Cooperation
Grounds for gas cooperation between Iran and Turkey were discussed during a meeting between director for international affairs of National Iranian Gas Company (NIGC), the head of the provincial NIGC branch in West Azarbaijan Province and the Turkish embassy's consul-general. The meeting was held in the northwestern city of Urmia.
Mansour Sadeqian, CEO of NIGC branch office in West Azarbaijan, said this province connects Iran and Turkey, adding: "Given its high technical potential and valuable experiences in gas supply, the West Azarbaijan provincial branch of NIGC could play an important role in gas exchanges between Iran and Turkey."
"In case of willingness on the part of the other party, this company would be able to provide the necessary infrastructure for the supply of part of Turkey's natural gas needs particularly in border cities," he said.
For his part, Turkey's consul-general reiterated Iran's status in global energy ties, saying: "Turkey is very eager to have broad cooperation with Iran in this field."
Mehmet Bulut said the activities carried out in gas supply to remote areas of West Azarbaijan Province was appreciable, adding: "Many big cities in Turkey are deprived of natural gas while even remote areas in Iran have easy access to natural gas. That is appreciable."
He expressed hope that further positive steps would be taken for the expansion of relations between the two countries, particularly in the energy sector and the necessary grounds would paved in West Azarbaijan Province for the supply of natural gas needs of Turkey by NIGC
Tabriz Exports Petchems to 30 Countries
Official data shows 42% of polymer products of Tabriz Petrochemical Plant were exported to world markets in the first half of the current calendar year (started in March 2016).
The petrochemical plant surpassed its nominal output in the first half of the year to export products to 30 countries. It showed a 75% increase year-on-year.
The plant exported 92,000 tons of polymer products to different Asian, European and African states.
The main buyers of Tabriz products were China, India, Pakistan, Russia, Turkey, Romania, Greece, Poland, Bulgaria, Hungary, Germany, Italy, France, Czech, Romania, Belarus, Ukraine, Central Asia, Caucasus, Arab and African states.
Total to Sign $2b Olefin Deal
Managing Director of Persian Gulf Petrochemical Industries Company (PGPIC) Adel Nejad-Salim says Iran and France’s Total are to enter a $2 billion contract for an olefin project by the end of the current Iranian year of 1395 (to end on March 20).
Nejad-Salim, said contracts are to be signed with international companies.
He said seven agreements have so far been signed with international companies like Total of France.
He said by the end of the current Iranian year of 1395, two contracts, one with Total, will be signed.
Following the implementation of the Joint Comprehensive Plan of Action (JCPOA), Iran and Total signed a deal for the French company to invest in Iran’s petrochemical industry.
Total has started feasibility studies on Iranian petrochemical projects and feedstock receipt conditions.
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