Iran wants to revive gas projects with Oman ahead of Raisi’s visit

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By Golna Motevalli

(Bloomberg) –

Iranian Oil Minister Javed Ozi met with Oman’s foreign and energy ministers in Muscat and discussed reviving a project to develop a shared gas field that has been stuck for nearly 20 years.

The state-run Islamic Republic News Agency reported on Saturday that the OGC had agreed to revise a 2004 agreement to develop gas levels in the Hengam field in the Persian Gulf. The IRNA did not cite a source.

The project, estimated to cost about $ 1 billion in annual gas sales to Iran, involved the laying of a pipeline across the waterway to supply 30 million cubic meters of Iranian gas a day to Oman, IRNA said.

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Ozier’s visit comes ahead of President Ibrahim Raisi’s visit to Sultana, which seeks to maintain relations with Iran during the security crisis in the Persian Gulf, which began in 2018 due to the Trump administration’s withdrawal from the nuclear deal.

According to the website of the National Iranian Oil Co., the Hengam field east of the Gulf is estimated to contain about 700 million barrels of crude oil and two trillion cubic feet of natural gas, which manages Iranian shares. Field

Iran holds the world’s second-largest proven gas reserves but its production capacity has been hampered by decades of funding and sanctions. Last month, Ozzy said the sector needed বিনিয়োগ 80 billion in investment.

Rice’s visit, which is set to begin on Monday, comes amid indirect talks between Tehran and Washington over how to restore that landmark deal, with the United States stalling the designation of Iran’s Islamic Revolutionary Guard Corps as a terrorist organization.

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