Japan’s Inpex to study major Iranian oil field: Report

Inpex Corporation, Japan’s top energy developer, has signed a Memorandum of Understanding (MoU) with the National Iranian Oil Company to carry out studies on the development of the South Azadegan Oilfield, located in the Southwestern Province of Khouzestan, a report said.

Inpex is a strong candidate for the project after signing an MoU to look into developing of the Azadegan oilfield, Japan’s Kyodo news agency said, citing Noreddin Shahnazizadeh, the Managing Director of Iran's Petroleum Engineering and Development Company.

Inpex needs to compete with Shell and France’s Total over the development of South Azadegan.

Total, Royal Dutch Shell, Malaysia’s Petronas and China National Petroleum Corp (CNPC) have signed similar MoUs with Iran.

The report by Kyodo added that a tender would be held around the first quarter of this year.

Iran shares South Azadegan with Iraq which has been producing 210,000 barrels per day from the field since April 2014. Iraq is targeting a production plateau of 1.8 million bpd from the field.

Based on studies, there are 23 joint hydrocarbon fields between Iran and Iraq which are divided into exploration, development and production categories.

ME