Iran 'negotiating swap of Repsol, Shell gas projects'

0 Comments | AFP, May, 2008

TEHRAN (AFP) — Iran is negotiating with Spanish and British-Dutch energy giants to switch their gas exploration blocs with others due for later development, the oil minister was quoted on Thursday as saying.

The comments by Oil Minister Gholam Hossein Nozari came after sources in Spain's Repsol said the company wanted to swap its phase in the offshore South Pars field, Iran's largest gas field, owing to rising development costs.

"The border areas phases 13 and 14 of the South Pars gas field were allocated to (British-Dutch) Shell and Repsol," Nozari was quoted as saying by the Hamshahri newspaper.

"But instead of these two, we are examining giving them other phases. Phase 15, 16, 20 and 21 are being negotiated with Shell and Repsol," he said.

...