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Norway firm says best placed for Iran deals

US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
Norway's DNO ASA says Iran offers interesting opportunities for business.

The Norwegian oil and gas company DNO ASA says it sees itself best placed to boost recovery from Iran’s oilfields and develop new ones as interest builds up in the energy superpower after the conclusion of nuclear talks. 

DNO, listed on the Oslo Stock Exchange, is focused on the Middle East and North Africa. The company said it is interested in doing business in Iran since the country “offers interesting opportunities”.

The Norwegian firm has been operating in the Iraqi Kurdistan and Oman, and the technology and experience in those countries could be relevant to help boost Iran’s oil output, it said.  

"DNO is uniquely well placed as it operates oil and gas projects, both onshore and offshore, in three neighboring countries with specific synergies and opportunities," the company said.

Oil majors including Royal Dutch Shell, France’s Total, BP and Italy’s Eni have also indicated interest in Iran’s new projects.

Energy officials say Iran has identified nearly 50 oil and gas projects worth $185 billion for development.

Minister of Petroleum Bijan Zangeneh has said Iran will add 500,000 barrels per day to its export capacity within two months after the removal of the sanctions and one million barrels per day after six months.

Managing Director of the National Iranian South Oil Company Bijan Aalipour said this week that all necessary plans for raising oil and gas production have been developed.

He said operations for a return to the pre-sanction production ceiling will be done in the shortest possible time.

Mehdi Hosseini, head of Iranian Ministry of Petroleum’s Oil Contracts Revision Committee, said Iran hopes to boost crude production to 5.7 million barrels a day. 

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