Lukoil Oil Makes Discovery on Anaran Block in Iran
A major discovery was made on the Anaran exploration block in west Iran, which could become one of the most significant oil finds over the past several years.
The Anaran field was discovered as result of testing of the exploration well drilled on the Azar structure, which produced commercial crude in July 2005. Exploration operations on the block are continuing with the Changuleh-West well currently in drilling.
A commercialization report has been submitted to the National Iranian Oil Company (NIOC). After its approval the parties will started negotiating a contract to develop the field. NIOC is expected to review the report by March 2006.
The contract covering the entry of LUKOIL Overseas into the Anaran project was signed on February 14, 2003 and entered into force on September 26, 2003 after NIOC sanction. The interest of LUKOIL Overseas in the contract is 25%, with Norsk Hydro's stake at 75%.
Four prospects, Azar, Changuleh-West, Dehloran and Musian, have identified at Anaran block. Projected recoverable oil reserves of the block could reach 1 billion barrels. The mandatory work program includes drilling of five exploration wells. Specialists from Norsk Hydro that by 2010 Anaran could be producing up to 100,000 barrels per day.
- Romania Closes One Case Against Russia's Lukoil, Related Trial Still On (Nov 17)
- Transneft: Oil Supplies to Lukoil's Norsi Refinery Suspended Due to Fire (Oct 05)
- Russia's Lukoil Eyes Decade Of Oil Output Growth (Sep 20)
Company: Norsk Hydro ASA more info
Operates 1 Offshore Rigs
- Sentry Petroleum Appoints Former Norsk Hydro Analyst to Board of Directors (Dec 29)
- Hydro Under Investigation for Former Libya Oil Operations (Oct 07)
- SeaBird First Contract Award for SeaBed Operations (Apr 28)
Company: NIOC more info
- Total, Shell, Eni Eligible to Bid for New Iran Oil, Gas Projects (Jan 03)
- IRNA: NIOC Helicopter Crashes in Caspian Sea (Nov 28)
- Sources: India Set To Buy Iran Oil For Emergency Reserves (Sep 20)