UK grants Iran permission to extract gas in North Sea

The UK has granted Iran permission to extract gas at Ram in the North Sea, a field frozen in 2010 over EU sanctions against Iran, reports.

The field is peculiar for high pressure and temperature. Such oil wells may cause ecological problems after long conservation. The terms of its re-launch have not been announced yet.

Moreover, income from exploitation of Ram by the Iranian Oil Company will be transferred to a frozen account. BP and the Iranian Oil Company own the field. The oil well used to cover about 4% of British gas demands. It was launched in 2005.

By Vestnik Kavkaza


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