The Japanese government is interested in upstream projects in Iran, including the Azadegan oilfield, and intends to provide financial support for Japanese companies once commercial decisions for participating in the projects are made, a senior government official said.
"With Iran holding one of the largest oil and gas reserves in the world, we recognize that upstream developments would be extremely good opportunity for Japanese companies," Yuki Sadamitsu, director of the oil and gas division at the Ministry of Economy, Trade and Industry said in an interview with Platts.
"As the government, we are interested in upstream opportunities including Azadegan in Iran," Sadamitsu said.
Iran has said it plans to start putting out tenders in April-May for dozens of oil and gas developments using its redesigned upstream contracts model.
In its Tehran seminar in November, Iran introduced a total of 70 oil and gas projects for foreign participation, including 52 development and 18 exploration projects. The development projects comprised 29 oilfields and 23 gas fields.
The Iranian oil development projects include the giant onshore South Azadegan field, offshore Soroosh and Norooz fields as well as enhanced oil recovery projects at the major but aging onshore Ahvaz-Bangestan, Mansuri-Bangestan and Ab-Teymour fields.
Asked to comment about Japan's potential interests for participating in projects in Iran, Sadamitsu said the government has kept its options open for exploration, development and enhanced oil recovery projects, leaving it to the Japanese companies to make commercial decisions.
Iran is targeting an eventual 2 million bpd of new crude production capacity from the 50-plus upstream development projects it has planned to introduce to potential international investors under the modified contracts.
Iranian crude imports
Asked to comment about the outlook for Japan's crude imports from Iran in 2016, Sadamitsu said: "It is possible they will increase."
"Though it would depend how much Iran can offer on competitive terms," said Sadamitsu, stressing that Japanese refiners and trading houses are extremely cost-cautious.
"If Iran offers good terms, there are plenty of chances for the increase as [companies] are more sensitive to price and quality," Sadamitsu said.
Japan's crude imports from Iran plummeted in recent years due to sanctions imposed in 2012. They averaged 170,360 bpd in 2015, compared with 313,480 bpd in 2011.
On February 5, Japan signed a bilateral investment treaty with Iran, following its lifting of key oil, gas sanctions against Iran on January 22.
This followed the lifting of western sanctions against Iran on January 16.
Inpex, Japan's largest upstream company, had a 10 percent stake in the Azadegan oilfield but withdrew in 2010.
Source:Irandaily
[thumb=|The Japanese government is interested in upstream projects in Iran, including the Azadegan oilfield, and intends to provide financial support for Japanese companies once commercial decisions for participating in the projects are made, a senior government official said. "With Iran holding one of the largest oil and gas reserves in the world, we recognize that upstream developments would be extremely good opportunity for Japanese companies," Yuki Sadamitsu, director of the oil and gas division at the Ministry of Economy, Trade and Industry said in an interview with Platts. "As the government, we are interested in upstream opportunities including Azadegan in Iran," Sadamitsu said. Iran has said it plans to start putting out tenders in April-May for dozens of oil and gas developments using its redesigned upstream contracts model. In its Tehran seminar in November, Iran introduced a total of 70 oil and gas projects for foreign participation, including 52 development and 18 exploration projects. The development projects comprised 29 oilfields and 23 gas fields. The Iranian oil development projects include the giant onshore South Azadegan field, offshore Soroosh and Norooz fields as well as enhanced oil recovery projects at the major but aging onshore Ahvaz-Bangestan, Mansuri-Bangestan and Ab-Teymour fields. Asked to comment about Japan's potential interests for participating in projects in Iran, Sadamitsu said the government has kept its options open for exploration, development and enhanced oil recovery projects, leaving it to the Japanese companies to make commercial decisions. Iran is targeting an eventual 2 million bpd of new crude production capacity from the 50-plus upstream development projects it has planned to introduce to potential international investors under the modified contracts. Iranian crude imports Asked to comment about the outlook for Japan's crude imports from Iran in 2016, Sadamitsu said: "It is possible they will increase." "Though it would depend how much Iran can offer on competitive terms," said Sadamitsu, stressing that Japanese refiners and trading houses are extremely cost-cautious. "If Iran offers good terms, there are plenty of chances for the increase as [companies] are more sensitive to price and quality," Sadamitsu said. Japan's crude imports from Iran plummeted in recent years due to sanctions imposed in 2012. They averaged 170,360 bpd in 2015, compared with 313,480 bpd in 2011. On February 5, Japan signed a bilateral investment treaty with Iran, following its lifting of key oil, gas sanctions against Iran on January 22. This followed the lifting of western sanctions against Iran on January 16. Inpex, Japan's largest upstream company, had a 10 percent stake in the Azadegan oilfield but withdrew in 2010.-Japan]http://en.mbncompany.com/uploads/posts/2016-02/1455951002_image_650_365.jpg[/thumb]
