The meeting examined the status of several priority energy projects,
including flare gas collection, an emergency plan to raise oil production by
250,000 barrels per day, output expansion at the Azadegan oil field, pressure
boosting at the South Pars gas field and financing arrangements for oil and gas
developments, the presidency’s website said.
Participants reviewed amendments to the contract for the Azadegan oil
field development and agreed that the revised terms would be deemed ratified
and formally notified by the Ministry of Petroleum. Under the decision, the
investing company must provide the required funding to the operating company’s
board within two weeks and fully meet contractual conditions within two months.
Pezeshkian said decisions taken on the Azadegan project would form the
basis for moving the development forward and called for faster implementation
of the agreement.
The meeting also assessed the latest status of Iran’s flare gas
collection programme, with officials instructed to identify and remove
obstacles slowing progress, including requirements related to domestic content
regulations and tendering procedures.
Officials said 70 million cubic feet per day of sweet gas produced by
the Cheshmeh-Khosh gas processing plant and NGL 3100 facility – built to
capture associated gas from western oil fields – had been successfully injected
into the national gas pipeline network.
On the emergency oil output plan, it was agreed that the Central Bank
would supply the required foreign currency financing, with funds to be released
gradually. The project has been designated a priority within a joint foreign
exchange financing package by the Central Bank and the Ministry of Economic
Affairs and Finance, with proposals to accelerate funding to be prepared.
The meeting also decided that investment, financing and payback models
for the South Pars pressure-boosting project would be reviewed jointly by the
Planning and Budget Organization and the Ministry of Economic Affairs and
Finance, with conclusions to be reported.
In addition, remaining upstream oil contracts are to be ratified by
the oil ministry and submitted to the Supreme Oversight Board for final
approval, the report said.