Iranian minister of petroleum, Rostam Qasemi, says China will invest 20 billion dollars in development of Azadegan and Yadavaran oil fields.
Visiting Pertropars Company on Sunday, Qasemi said: After 10 to 15 years of negotiations with Chinese side, the two sides reached some agreements on development of Azadegan and Yadavaran oil fields adding Chinese side has started executive work in the fields.
Up to now more than 20 drilling rigs have entered in the area amid making some arrangements for production of 700 thousand barrels of oil per day, Qasemi said.
Referring to firm determination of petroleum ministry for taking a final decision on shared oil and gas fields, minister of petroleum said: Development contracts of twelve oil and gas fields including Azar and Changoleh fields have been finalized.
Development of Azar and Changuleh oil fields have been started, the official said adding some steps have been taken for development of Darkhovain and Mansouri plus development of offshore oil and gas fields including Farzad A.
Qasemi also said necessary steps should be taken for development of other oil and gas fields including Farzad B, Esfandiar and other shared oil and gas fields.
Iran holds rich oil and gas reserves, Qasemi said adding in order to make up for lagging behind neighboring countries in production of oil and gas from shared fields, it is necessary capabilities of domestic companies and contractors are being used and big domestic companies as national assets to be organized.
To achieve sustainable development in oil industry, it is necessary big domestic companies, like Petropars, to be formed and big contractors to give more room to small contractors for participation in oil industry projects.
Elsewhere in his remarks, the official said Petropars enjoys good capabilities in implementation of oil industry projects adding one of the main issues in implementation of projects includes having efficient human being resources.
Petropars should implement necessary programs in training and absorption of elite forces in order to improve the qualification of its staff.
Stressing on quality, respecting timetable and to be economical as three important criteria in implementation of projects, Qasemi said: Despite the importance of timetables, unfortunately situation is not satisfactory in this regard and it is necessary the problem to be solved.
If South Pars gas field projects to be completed one month ahead of schedule, the country will earn three billion dollars each month, according to Qasemi.