BELARUS NEWS AND ANALYSIS
DATE:
17/02/2010
Minsk anticipates Iranian oil
TEHRAN, Feb. 17 (UPI) -- Minsk looks forward to the pending inauguration of the Jofeir oil field straddling the Iran-Iraq border, the Belarusian foreign minister said in Tehran.
Belarusian Foreign Minister Sergei Martynov, during a meeting with his Iranian counterpart Manouchehr Mottaki, said he looked forward to witnessing the inauguration of the field this year, the Iranian Students' News Agency reports.
The National Iranian Oil Co. signed a September 2007 deal with Belarusian oil company Belarusneft to develop the Jofeir oil field through a joint venture.
Production at the border field is estimated at 30,000 barrels of crude oil per day. Iranian Oil Minister Masoud Mir Kazemi said the oil field should come on stream for about $500 million.
Estimated in-place reserves at the field are 2.1 billion barrels, of which 95 percent is heavy oil and 5 percent is light crude.
October estimates put the launch date in March, though Kazemi indicated production would most likely take place during the summer.
The Jofeir oil field is in southwestern Iran.
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