Italy’s Eni signs MoU with Iran on oil & gas field study

By  Trend

Italian energy company Eni signed a memorandum of understanding with National Iranian Oil Company (NIOC) on June 20 to study two Iranian oil and gas fields.

Under the MoU, the Italian firm will undertake studies for development of the Kish gas field and the third phase of the Darkhovin oil field, Mehr news agency reported June 20.

Eni will submit its master development plan (MDP) to the NIOC within six months.

The Darkhovin oil field, located in the southwestern province of Khuzestan, was discovered in 1965. The in-place oil reserves of the field have been estimated at over five billion barrels.

The first two phases of the project are now operational, and the oil field is currently producing 160,000 barrels of oil per day (bpd). The first phase became operational in 2005, and the second phase came on stream in February 2011.

Darkhovin’s third phase is to produce 110,000 bpd of crude and 210 million cubic meters per day of gas.

The Kish gas field is expected to yield 28 million cubic meters per day of gas, to be used domestically, and 11,300 bpd of gas condensate set for export.