Early production from Sardar Jangal oil field maybe another time / details of Caspian Oil Company activity

According to the economic correspondent of Fars News Agency, Caspian Oil Company is one of the subsidiaries of the National Iranian Oil Company. Petroleum products related to reservoirs and ports and loading and other duties approved by the General Assembly of the Oil Company in the “geographical area of ​​the Caspian Sea” including the provinces of Gilan, Mazandaran and Golestan.

* Lack of financial resources of the Caspian Oil Company and restrictions on projects

An examination of the financial statements of the Caspian Oil Company in 1999 shows that almost no significant financial resources have been allocated to the company’s projects.

Figure 1 is a project cost statement of the company in 1999. As you can see, the approved budget for this company has been allocated only in the field of exploration and production support, which is much less than the budget of one of the simple land development projects in the south of the country.

Figure 1

As a result, no financial resources have been allocated to this company for the transfer of the platform project, the project of vessels 1 and 2, the project of construction of residential units, the seismic project of Gorgan, the project of geophysics at sea, the project of land and sea drilling, etc.

Perhaps the lack of financial resources of the National Oil Company in 1999 due to the decline in oil sales has caused the Caspian Oil Company to be completely marginalized and the priority of production to be concentrated on other oil-rich regions of the country with cheaper production costs.

* Management and registration of Amirkabir platform The most important activity of the Caspian Oil Company in 1999

Figures 2 and 3 show the details of the Caspian Oil Company’s quantitative objectives in 1999 according to the criteria of “approved budget” and “performance”. According to Figure 2, the management, management and maintenance of the Amirkabir platform and the implementation of work and repair packages have been among the priorities of this company.

Iran has only two platforms in the Caspian Basin, including the semi-floating platform of Amirkabir, which is dedicated to deep water and can be drilled to a depth of 1000 meters above the water surface, and the other is the Elima jackpot platform belonging to the Mostazafan Foundation for shallow depths of about 60 and 70 meters. It can drill that has been leased to Turkmen oil companies for the past 15 years.

Another part of the activities of the Caspian Oil Company is summarizing the operation of Caspian support vessels, repairs, fuel supply and oil of the fleet.

Figure 2

* No funds were allocated for early production from the Sardar Jangal oil field

The interesting point in Figure 3 is that no budget has been allocated for feasibility and detailed studies of early production from the Sardar Jangal oil field.

Sardar Jangal oil field is the only Iranian field discovered in hydrocarbon structures belonging to Iran in the South Caspian Basin. This oil field was discovered in 2012 and so far Iran has not produced from this oil field and only the exploration and volume of the reservoir has been proven.

Figure 3

Previously, Ali Osuli, CEO of the Caspian Oil Company, in February 1998, referring to the plan for early oil production from Sardar Jangal field said: A plan for long-term testing of wells in Sardar Jangal field is being prepared by Caspian Oil Company experts to be submitted to the integrated planning management of the National Iranian Oil Company, and if approved, early production from this field will be on the agenda.

* Rejection of margins about Chalous gas field according to the financial statement of Caspian Oil Company

Of course, in recent years, few projects of the Caspian Oil Company have been stopped due to lack of financial resources, but many media outlets have been created around the company and the Chalous gas field and the company’s partnership with the Russians and Chinese to develop this field.

These rumors are being spread while, firstly, Iran does not have any discovered gas field called Chalous gas field that it wants to develop with the participation of foreigners, and secondly, in the company’s financial statements, there is no definition of a related project or projects.

* The 13th government’s plan for the development of the Caspian Basin is still unknown

According to experts, given the importance of Iran’s hydrocarbon resources in the structures of the South Caspian Basin, activating this potential capacity requires a national approach. In the previous government, the then Minister of Oil kept the Caspian Basin silent since 1995, and thus no budget was allocated for exploration discussions.

In the previous government, the plan of early production from Sardar Jangal oil field and other plans to activate the Caspian Basin were repeatedly taken to the board of the National Oil Company, but with the opposition of the board, only the development of the Caspian basin was conditioned by foreign participation and the presence of foreign consortia.

It is not yet clear what the 13th government’s Ministry of Oil plans for Iranian-owned hydrocarbon structures in the South Caspian Basin, cooperation with neighbors in determining the legal regime, and other issues related to the Caspian Basin.

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