Iran has offered 52 oil and gas development projects in
addition to 18 exploration blocks at its Tehran IPC Conference held last week.
The projects, estimated to be worth more than £30 billion,
include 29 new and currently producing oilfields and 23 gas developments, with
onshore fields accounting for 34 of the projects.
The huge offshore field covers an area of 9700sq km, 3700sq
km of which are in Iran’s territorial waters in the Persian Gulf. The remaining
6000sq km are in Qatar’s territorial waters.
The field is estimated to contain a significant amount of
natural gas, accounting for about 8% of the world’s reserves, and approximately
18 billion barrels of condensate.