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Code: 1441
Type: News

OVL, Petropars want stake in Kish block

Date: Sunday, January 20, 2008
Source: Economic Times

India's energy ties with Iran, oft shrouded more in myth than reality, may spring some pleasant surprises soon, much to the dislike of Big Brother US

Indian petro major ONGC Videsh (OVL) is set to sign a deal with Iranian oil major Petropars for a stake in Kish gas block in Iran even as it filed its first-ever commerciality report on the Farsi block. 

Sources in the know said the two partners, OVL and Petropars, have approached the National Iranian Oil Company (NIOC) for joint development of the Kish gas field. The field is stated to have about 48 tcf in-place gas reserve. 

It is understood that the issue has been discussed with the visiting Iranian delegation, headed by Dr Davood Danesh Jafari, Iranian minister for economic affairs & finance. 

According to sources within the Iranian government, the value of natural gas and gas liquid products of Kish block is estimated to be around $30 billion. It is said the recovery factor of Kish field is around 75% with around 36 tcf of recoverable gas.

 

Related News in 2010:

Basic design of Kish gas field to be reviewed  (Mar 16)
Tender result for Kish 2nd appraisal well out (Mar 15)
More details on Kish gas field development project (Mar 15)
Main upstream indices of Iran's 5th plan (Report) (Jan 12)

Related News in 2009:

PEDEC done with all Kish gas refinery EP packages (Dec 20)
Kish gas development plan moving forward (Dec 15)
List of NIOC oil & gas development projects until 2015 (Report) (Dec 14)
News In Brief (Dec 05)
NIOC stepping up oil exploration (Nov 02)
Controversial news coverage over discovery of new gas (Nov 01)
New gas discoveries in Azadegan and Kish (Oct 28)
News In Brief (Oct 12)
Tender for 2nd appraisal well of Kish gas field underway (Oct 08)
Lowest bidder named for Kish gas sweetening plant (Oct 05)
First appraisal well of Kish gas field ready in 2 months (Sep 13)
PEDEC to become an oil producing company (Sep 07)
Iran’s oil ministry requests $ 3 Bln credit (Sep 07)
Iran’s energy relationship with neighbors in past 4 years, P.G States (Sep 01)
News In Brief (Aug 31)
Iran-Oman closing in on gas deal: NIGEC MD (Aug 09)
News In Brief (Aug 08)
News In Brief (Persian Gulf) (Jul 30)
Buyback deal for Kish gas field likely in a month (Jul 26)
Winner of drilling tender of Kish gas field in Sept: PEDEC (Jul 15)

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