Iranian Oil Ministry has been negotiating to sign oil contracts with the European companies, but the European companies are not ready for that yet, IRNA news agency quoted said Bijan Namdar Zangane, Iranian Minister of Oil Industry, as saying.
He said Iran could use help of foreign contractors for development of the two remaining stages of the giant gas field Southern Pars. Southern Pars field is located in the Persian Gulf. This world biggest gas field is the property of Iran and Qatar. According to the estimates, the extractible gas resources are equal to 215 billion barrels of oil. The field also has about 16 billion barrels of condensaete.
Southern Pars field is divided ito 29 Phases and it has about 14 trillion cub.m. of gas or about 8% of the world total resources.
Before the sanctions Iran extractd about 4.2 million barrels of oil a day and about 2.5 million barrels has been exported.
After the sanctions applied against Iran for its nuclear program, export volume decreased to about 1 million barrels a day.
Last fiscal year (ended on March 20, 2014) share of income from oil sales in the Iranian state budget constituted 41% of total earnings of the budget, said Amin Hosein Rahimi, cheif of the Irnaian High Revision Court. He said 35% of incomes of the state budget was ensured by taxes and 65% by other sources of income.
