Oil MoUs to turn into agreements in months: Oil official

EghtesadOnline: A senior oil official announced that Iran’s oil MoUs with the international companies will turn into agreements in the Iranian month of Khordad (May 21, June 20, 2017).

News ID: ۷۴۰۱۵۴

04 March 2017

Amir Hossein Zamaninia, deputy petroleum minister for international affairs made the remarks at a national ceremony on Saturday, saying Iran has inked 25 oil MoUs with the international companies, IRNA reported.

Speaking at the national ceremony on the Joint Comprehensive Plan of Action (JCPOA) and the Economy of Resistance, Zamaninia said the European Union (EU) foreign policy chief Federica Mogherini has recently declared that the new US administration will be fully committed to the JCPOA.

“I was reassured by what I heard in my meetings on the intention to stick to the full and strict implementation of the agreement in all its part,” France 24 quoted Mogherini as speaking to reporters during her first visit to Washington on Feb 10 since the new US President Donald Trump took office.

So, the oil official added, there would be no major problem in the areas of oil and gas.

Talking of Iran’s oil exports, the official said the exports of the country’s oil and gas condensate will go up to over 2.630 million barrels per day.

After the July 2015 JCPOA, exports of Iran’s oil doubled and the income earned from the country’s oil exports and gas condensate has been about 34 billion dollars during March 20, 2016, up to now.

Iran’s international oil MoUs are valued at about 80 to 85 billion dollars after being turned into agreements, Zamaninia noted.

About cooperation with Total, the official said the French oil and gas company has made about 20-million-dollar investment in Iran in recent months.

Total, he went on to say, is making its projects ready to be operational in Iran.

Zamaninia concluded his remarks by pointing to gas exports to Iraq, saying the value of Iran’s gas exports to that neighboring country will be 1.4 billion dollars in a year.