Iran, Oman Eye Joint Development of Hengam Offshore Oil Field

Reuters
Monday, May 23, 2022

Iran and Oman have agreed to form a committee to jointly develop the Hengam oil field, which straddles both countries' sea border, Iran's semi-official Fars news agency reported its oil minister Javad Owji as saying on Monday.

In 2005, both countries signed a memorandum of understanding to jointly develop the Hengam oil field but the agreement did not materialize and Iran decided to develop the field independently in 2012.

"As the first basis of my talks with Omani Oil Minister Mohammed bin Hamad Al-Rumhi, it was agreed to form a joint technical committee to develop the next phases of the Hengam oil field in a seamless manner between Iran and Oman," Owji said.

"Joint exploitation, in contrast to competitive exploitation, will be mutually beneficial to both countries as this method leads to less damage to the reservoir and allows for more extraction," the oil minister added.

Last week, Iran's state news agency IRNA reported that Owji had agreed to revive a long-stalled project to lay an undersea pipeline to carry gas to Oman.


(Reuters - Reporting by Dubai Newsroom)

Categories: Energy Middle East Industry News Activity Production

Related Stories

CNOOC Starts Production at Two New Oil and Gas Projects

Shell Launches Next Phase of Malaysia's Deepwater Project with First Oil Production

Eco Wave Finds Partner for Wave Energy Project in India

CNOOC Starts Production at Offshore Oil Filed Equipped with CCUS Tech

Petronas Preps for Sabah-Sarawak Gas Pipeline Decom Op

Kazakhstan Looks to Improve Oil Production Agreements Terms

Abu Dhabi's NMDC Group Gets $1.1B Subsea Gas Pipeline Job in Taiwan

CNOOC’s South China Sea Oil Field Goes On Stream

AI & Offshore Energy: The Higher the Stakes, the More Value AI Creates

Makin' a List ... Trump Prioritizes Energy Exploration, Production, Export

Current News

Woodside Inks Long-Term LNG Supply Deal with China Resources

CNOOC Starts Production at Two New Oil and Gas Projects

Argentina YPF to Shed Offshore Exploration Projects

Cairn India Might Invest in US Oil Servicing Firms to Increase Production

All Gas from Conrad’s Mako Field to be Sold to Indonesia’s PLN

ORE Catapult and Japan’s FLOWRA to Jointly Advance Floating Wind

Shell Hires Noble’s Drillship for Work in Southeast Asia

Second Hai Long Substation Heads to Project Site Offshore Taiwan

Shell Launches Next Phase of Malaysia's Deepwater Project with First Oil Production

CNOOC Discovers ‘Vast Exploration Prospects’ in China’s Beibu Gulf Basin

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com