Malaysia’s Amona Company, China Oilfield Services Limited (COSL), and China National Offshore Oil Corporation (CNOOC) have announced that they are to cooperate in the development of Resalat oilfield in Iran.
The Mehr news agency in Iran quoted Mahmoud Zirakchianzadeh, managing director of the state-owned Iranian Offshore Oil Company, as saying that Iran and Malaysia’s Amona Company had signed a US$1.4 billion deal to develop the field last year.
Amona has in turn reached preliminary agreements with COSL to conduct drilling operations and with CNOOC to establish the required marine installations.
“Negotiations with a Chinese bank are underway to finance the project,” Zirakchianzadeh said, predicting the agreements would be finalised within the next month.
By implementation of this development plan, the daily output capacity of the Resalat oilfield will be raised up to 47,000 barrels per day (bpd) from the current figure of 12,000 bpd.
The Malaysian company also agreed to finish the project within three and a half years.
The Resalat oilfield is located about 90 kilometers off Lavan Island in the Persian Gulf.
Iran signed a $16 billion deal with Malaysia’s SKS in December 2007 to develop the Golshan and Ferdows gas fields in the southern province of Bushehr.
National Iranian Oil Company (NIOC) and China National Petroleum Corporation (CNPC) signed a $5 billion contract on June 3 for the development of phase 11 of the South Pars gas field
