Iran - Petrobras Operations.

APS Review Gas Market Trends, April, 2009

In February 2009, state-controlled Petrobras of Brazil committed to fund development of Iranian oil and gas reserves in the Caspian Sea, spurred on by its recent discovery of oil in the Tusan block. Tusan lies in shallow waters and is close to producing fields. Petrobras returned to Iran in mid-2004 by signing a four-year exploration deal for Tusan. That was more than 20 years after it left Iran, having found over 10 bn barrels of oil there before the 1979 revolution ended foreign E&P investment. Petrobras has bid for some of the 16 new blocks on offer since 2003 and retendered more than twice. The problem is the short buy-back period, which is the duration of the field's development and production tests.

Petrobras in February 2009 found hydrocarbons in...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.