IOOC to focus on joint H/C fields

TEHRAN Oct 23 (Shana): The new managing-director of Iranian Offshore Oil Company (IOOC) has underscored the need for the development of hydrocarbon fields Iran shares with neighboring countries.

“Taking advantage of the capabilities of knowledge-based companies will help enhance the recovery rate and productivity,” Saeed Hafezi said on Tuesday.

He said Iran shares a large number of hydrocarbon fields with neighboring countries. “Our focus will be on developing the joint fields. Moreover, we have to update the company’s procedures,” he added.

“Given the complexity of work at sea, specialized technologies are needed for production from and development of offshore fields. To that effect, benefiting the capabilities of knowledge-based companies will raise recovery and productivity rates,” said Hafezi.

The official stated that appropriate decision-making would save costs and help the implementation of project in the shortest possible time.

He said the main objective pursued by IOOC is to raise production, boost development and bring revenues for the country.

“By focusing on the activities that could lead to the achievement of objectives, the implementation of projects need to be accelerated any extra activities must be avoided.”

Former IOOC chief, Mahmoud Zirakchianzadeh, said new oil and gas potentials have been discovered in the Persian Gulf over the past eight years.

“Over the past eight years, we tried to upgrade the international structure of IOOC,” he said.

Zirakchianzadeh said the IOOC will become the first offshore oil producer and the second offshore gas producer under Iran’s development plans.

He said IOOC produced 724,000 b/d of oil from the fields it runs in 2007. The figure, he said, was the highest in 60 years.
Zirakchianzadeh said seismic testing was conducted in eleven offshore hydrocarbon fields.

He also referred to gas-to-electricity, no-flaring and development of joint fields as other activities of IOOC.  

By SHANA

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