Economic Gains and Cooperation

Tasnim reports that Deputy Oil Minister Ali Majedi has declared that no shareholders will sell their stake in the Shah Deniz natural gas field off the coast of Azerbaijan, of which Iran is allocated 10 percent ownership. Shares of the gas field, one of the largest in the world, are also owned by Norway, France, Azerbaijan, Turkey, and Britain, which has a controlling share of 25.5 percent and operates the field. Majedi’s declaration seems to function simply as reassurance that the National Iranian Oil Company is actively expanding its global operations.

Tasnim also emphasizes the expected growth of the South Pars gas field, which Iran is developing in partnership with Qatar. The state news agency claims that the operation is currently producing 25 million cubic centimeters of gas per day, and may reach 60 million this year.