Iran left with no choice but to take legal action if Pakistan left Gas Pipeline agreement

Iran left with no choice but to take legal action if Pakistan left Gas Pipeline agreement

TEHRAN - Iranian Oil Minister Bijan Namdar Zanganeh said Sunday that Iran has held its end of the bargain by taking the Iran-Pakistan gas pipeline to the Pakistani border, but Pakistan has not yet taken any action in this regard.

“If Pakistan doesn’t take necessary actions in this regard Iran has no choice but to take legal actions,” he added.

Iranian Oil Minister Bijan Namdar Zanganeh said although Iran is able to increase its crude oil output by 100,000 barrels per day in less than few days but complying with OPEC, non-OPEC pact the country will keep the output at the agreed levels.

According to the minister, the increase in production levels would come from the West Karoun oilfields which Iran shares with Iraq.

“Oil production from the West Karoun fields has currently reached 305,000 barrels per day, 145,000 barrels more than last year’s 160,000 barrels,” Zanganeh said.

The official further noted that the country’s average daily oil production in the first ten months of the current Iranian calendar year (March 21, 2017- January 20, 2018) increased by 160,000 barrels compared to the figure for the last year’s same time span.

“The average exports in the same period also increased by 60,000 barrels on year,”

*Developing shared fields is ministry’s priority*

Elsewhere in his remarks, the minister stressed the development of shared fields as the ministry’s priority saying, “These fields will either be developed by domestic companies or will be assigned to strong foreign contractors.”

Asked about the potential foreign contractors for developing the fields, the minister didn’t mention any names due to security issues stating that negotiations are ongoing with domestic and foreign companies for development of the fields.

“Since there are always parties who try to intervene with contract signing processes, we prefer not to announce the names of companies with which the negotiations are close to conclusion,” the minister explained.

He stated that National Iranian Oil Company (NIOC) is currently negotiating with over 20 foreign and domestic companies to sign contracts for the development of the country’s oil and gas fields.

West Karoun region includes five oilfields (Yadavaran, North Azadegan, South Azadegan, North Yaran, and South Yaran) Iran shares with Iraq in the western part of Iran’s southwestern region of Karoun.TT