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ENI in Iran Time line of Italian Oil deals with Iran

02-Mar-99 Elf Aquitaine of France and Agip of Italy take over Doroud oil fields reserves.
Elf said it would own a 55-percent share with ENI subsidiary Agip taking 45 percent of Doroud's recoverable reserves ranging from 900 million barrels to 1.5 billion. The output will increase from 148.000 to 220,000 barrels per day of crude oil. Last February, Iran signed a 2 years, 200 millions US Dollars contract with the Canadian Bow Valley and the British Premier Oil to take Balal offshore fields in the Persian Gulf. In a recent press conference held in Tehran, Mohammad Reza Ne'mat Zadeh, the General Director of the National Iranian petrochemical Company admitted that American embargo has hindered the development of Iranian petrochemical projects. Value: $1 Billion (IPS)

23-Jul-00 Iran signs gas contract for fourth and fifth stages of South Pars gas-field with Italian ENI. The field’s reserves are estimated at 10 trillion cubic meters of Gas, making six percent of the world's total gas reserves worth USD 300 billions at the current market price, with Iran possessing 40 percent of the total reserves.
Petro Pars and ENI are to develop the fourth to eighth phases of the South Pars gas field for exploitation, the rest being done by a consortium made of Gazprom of Russia and Malaysia’s Petronas led by the French oil giant Total. “Once the said phases are commissioned, a daily record of 142,800,000 cubic meters of gas, 300,000 barrels of gas liquids and an annual record of 2,200,000 tons of liquefied petroleum gas (LPG). Value: $4.3 Billion (IRNA)

29-Jun-01 Italian Energy Group ENI seal an oilfield contract with Iran. ENI chief executive Vittorio Mincato was scheduled to sign a deal to develop the Dharkovin situated in the oil rich province of Khouzistan. More contracts are in the pipeline with particular interest surrounding the huge Bangestan development, for which Shell, Total, BP, and ENI.
Japanese firms, led by Japan National Oil Corp and partnered by Shell, will present Iran with their plans to develop Azadegan, one of the world's biggest remaining oilfields. Analysts say Eni's Darkhovin contract will net the company production of about 10,000 barrels a day over a seven-year period, small beer by the standards of the company's 1.4 million barrels a day total current output. Value: $400 Million (Reuters)

.24-Dec-00 01-Jun-2002
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Posted 24-Dec-00 | Revised 02-Jun-2002