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Iranian gas pipeline to Iraq under construction
by Daniel J. Graeber
Tehran (UPI) May 6, 2013


Iran maintains ties to Chinese energy firms
Tehran (UPI) May 6, 2013 - Chinese companies are still welcome in Iran's energy sector, but those not meeting their obligations are a source of frustration, the oil minister said Tuesday.

Iranian Oil Minister Bijan Zanganeh last week said a contract with China National Petroleum Corp. for development of the South Azadegan oil field was torn up because the company wasn't meeting Iran's expectations at a field said to hold more than 40 billion barrels of oil.

The minister said Tuesday there was a continued interest with working with Chinese companies, though the government was so far not happy with their performance.

"[The] ministry has by no means any intention of removing Chinese companies and investors from [Iran's] petroleum industry, but Iran has ended its cooperation with the Chinese firms that have not fulfilled their obligations in some projects," he said.

CNPC was given a contract from the Iranian government to develop the oil field straddling the border with Iraq in 2009. Chinese companies, including CNPC, are working with Iran on development of the South Pars gas field in the Persian Gulf.

A deputy oil minister in Iran said Tuesday there could be natural gas sent to power stations in southern Iraq during the current calendar year.

Ali Majedi, Iran's deputy oil minister for international affairs, said a pipeline from southern Iran across the border to power stations in Basra province is "currently under construction."

The pipeline will stretch from the Iranian port city of Asaluyeh, near the South Pars gas field, to Iraq.

Iran has boasted of its potential to reach new gas customers through South Pars, which is one of the largest gas complexes in the world. Iran shares the field with Qatar.

European officials have brushed off Tehran's gas offerings because of sanctions imposed on the Iranian energy sector. Though Iran secured some sanctions relief through an interim nuclear deal with Western powers last year, the U.S. government in particular has said Iran is not yet open for business.

Majedi said the pipeline from Asaluyeh could reach into the Syrian market when conditions return to normal in the war-torn country.

Oil found west of the Gulf of Suez
London (UPI) May 6, 2013 - Exploration company Sea Dragon Energy announced Tuesday it encountered oil while drilling into an Egyptian basin on the west side of the Gulf of Suez.

The company said its al-Amir SE 21 development well ran through a net 23 feet of oil. The company said the well flowed at a preliminary rate of 3,000 barrels of oil per day and 3.2 million cubic feet of associated gas.

Once the drilling rig is moved from the location later this year, the company said the well would be placed into production.

Paul Welch, Sea Dragon's chief executive officer, said the entire field, located west of the Gulf of Suez, should be able to produce at a peak rate of 11,500 barrels of oil and 12 million cubic feet of associated gas per day.

Sea Dragon is the minority partner in the concession, alongside operator Vegas Oil and Gas and Circle Oil PLC.

Sea Dragon's net production from Egypt is 1,680 barrels of oil equivalent per day.

Egypt holds an auction for oil and gas basins in July.

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