Participations in Foreign Gas Fields
- Iran owns 50% of the offshore gas field of Rhum in the North Sea, which is Britain's largest untapped gas field. It is a joint-venture with BP worth $1 million a day at June 15, 2010 spot prices.
- Iran has another 10% joint-venture participation with BP and other foreign oil companies in Azerbaijani Shah Deniz gas field, producing 8 billion cubic meters of gas per year, worth up to a reported $2.4 billion per year. The Iranian entity with which BP has partnered in these ventures is the Swiss-based Naftiran Intertrade, a subsidiary of NIOC. Shah Deniz is not subject to US sanctions.
Read more about this topic: National Iranian Oil Company
Famous quotes containing the words foreign, gas and/or fields:
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—Ralph Waldo Emerson (1803–1882)
“one pale woman all alone,
The daylight kissing her wan hair,
Loitered beneath the gas lamps’ flare,
With lips of flame and heart of stone.”
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“Something told the wild geese
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Something whispered—”Snow.””
—Rachel Lyman Field (1894–1942)