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News number: 8805141356

16:24 | 2009-08-05

Economy

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Iran, Oman Start New Round of Gas Talks

TEHRAN (FNA)- Iranian and Omani officials started a new round of their negotiations on the export of Iran's gas to the Persian Gulf country.



"Considering the fact that the Omanis need to purchase 2 billion c/f of gas from Iran for the country's consumption, this issue was studied during the visit by Omani King Qaboos bin Said al-Said," Managing Director of the National Iranian Gas Company Seyed Reza Kasayeezadeh said on Wednesday.

Noting that the Oman is in urgent need of Iranian gas to feed its LNG units and other industries, Kasayeezadeh reiterated that the Kish gas field and the different phases of South Pars gas field are considered for gas exports to Oman.

He also said that negotiations are underway to decide the volume of Oman's investment in the development of the first phase of Kish gas field.

Iran and Oman signed a deal in April to jointly develop Iran's Kish gas field in the Persian Gulf at an estimated cost of between $7bln and $12bln, but did not give a timeline for the project at the time.

Yet, the two sides said that they plan to complete the development of the Kish gas field by 2012.

The project will involve a 200km (124-mile) pipeline, mostly underwater, to Musandam and Sohar. Phase one of this project will transport gas to Oman at a rate of one billion cubic feet per day, which will then rise to 3 billion cubic feet.