Turkey and Iran negotiate to search for natural gas

Turkey and Iran continue to hold negotiations for an agreement on energy.

According to the sources, Iran, now is making an offer to Turkey two fields where the production of natural gas is guaranteed.

A senior official from the Turkish Petroleum Corporation (TPAO) told the AA that great amounts of investments are needed in Iran in the field of energy.

"We are conducting talks with Iranian authorities by taking into consideration the profitability of TPAO activities in Iran", the TPAO official said.

"We are seriously bargaining with Iran. At times, the talks seem to end but we go on with discussions. We are making slow progress in talks with Iranian energy authorities. Investments to search for natural gas in South Pars have virtually come to an end due to the U.S. embargo. Several companies have begun leaving the South Pars region", the TPAO official stressed.

Asked how the TPAO may continue investments in the region at a time of U.S. embargo, the official said that "it is TPAO's wish to see that all problems associated with Iran are resolved and Iran is reintegrated into global politics. We can then continue our works in Iran".

Iran and Turkey, in July 2007, had signed a memorandum of understanding on the marketing of Iranian natural gas to Europe via Turkey.

The South Pars/North Dome field is a natural gas condensate field located in the Persian Gulf. It is the world's largest gas field, shared between Iran and Qatar.

This gas field covers an area of 9,700 square kilometers, of which 3,700 square kilometers (South Pars) is in Iranian territorial waters and 6,000 square kilometers (North Dome) is in Qatari territorial waters.


/World Bulletin/