Oil and Gas Resources of Caspian Sea, a Strategic Reserve for Futures

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Oil and Gas Resources of Caspian Sea, a Strategic Reserve for Futures
On the occasion of government Week, Managing Director of Khazar Exploration and Production Company (KEPCO) Dr. Ali Osouli pointed to the activities and performance of his company and added, “as the largest lake in the world, Caspian Sea accounts for about 40 percent of total lake area of the world in terms of rich oil and gas reserves.”


After Persian Gulf region and Siberia, Caspian Sea is considered as third energy source in the world.

According to the International Energy Agency (IEA), total proven reserves of crude oil and natural gas in the Caspian Sea exceeds 100 billion barrels of oil and also 12 trillion cubic meters of gas.

In addition to its outstanding geopolitical situation, Caspian Sea is of paramount importance for Caspian Sea littoral states in terms of rich oil and gas reserves.

Since any rosy and bright perspective cannot be predicted for the existence of hydrocarbon resources in the Caspian Sea in the past years, after the victory of the Islamic Revolution in 1979, expert engineers of the country believed that Caspian Sea is home to rich oil and gas reserves which is not confined to some neighboring states. Proving the existence of reliable and considerable oil and gas in southern part of the Caspian Sea was realized at the unsparing and unflinching efforts of expert engineers of Khazar Exploration and Production Company as forerunner and flagbearer of this giant movement.

Expert engineers of Khazar Exploration and Production Company conducted vast feasibility studies in terms of geophysics, geology and oil engineering and grasped out to the existence of rich hydrocarbon resources in southern part of the Caspian Sea.

According to the studies made, 46 small and large oil structures have been recognized in depth between 500 to 80 meters, with the reserves exceeding 48 billion barrels of oil and gas.

According to the same scientific efforts and valuable studies made in geology, dire need for manufacturing a semi-floating drilling platform was felt for the drilling and exploration operation in the Caspian Sea, the issue of which was put atop agenda of the priorities of the National Iranian Oil company (NIOC).

Construction operation of semi-floating platform named “Amirkabir” was completed with the drilling capability up to 6,000 meters undersea in cooperation with the cooperation of able Iranian companies.

Finally, construction of this giant and unique structure, as weigh as about 15,000 tons, was one of the most challenge and breathtaking and complicated project of the company. Today, Amirkabir semi-floating platform boasts as a golden page in the list of honors of oil industry of the country, representing the sovereignty of the Islamic Republic of Iran in the international level.

By launching this giant project, undoubtedly, it can be said that the risk of drilling operation for the development and production activities has decreased as compared to the past due to the expertise and valuable experiences of Khazar Exploration and Production Company.

The issue of repair and maintenance has been cited as one of the important challenges of the company, he said, adding, “given the complicated and advanced technologies of semi-floating platforms, the company was heavily dependent on foreign countries in the past but today, expert engineers of the company have equipped with the world’s latest knowledge and technology in a way that all repair and maintenance operation of the platform are conducted by engineers of the company fully.

Setting up Relaxation Pool and allocation of a vast area for logistics affairs, repair and maintenance base for vessels, storage tanks and oil and gas transfer pipelines are considered as one of the strategies of the National Iranian Oil Company (NIOC) in northern part of the country and coasts of Neka and Behshahr cities, the managing director added.

Of the other important measures taken by Khazar Exploration and Production Company, it can be referred to the construction of three multipurpose logistics vessels (Caspian 1, 2 and 3), construction of logistics base, construction of jetty, relaxation pond for construction operation of exploration and drilling, fulfilling 4,800-m drilling operation in depth waters of Caspian, winning scientific experiences and accessing valuable exploratory data of deep waters of the Caspian Sea, increasing regional cooperation with the Caspian Sea littoral states in the safety and protection field and oil participations, signing and sealing various Memoranda of Understanding (MoUs) with domestic and international companies, fulfilling environmental projects according to the depth water standards, organizing maneuvers of preparation with the possible emission of oil pollutants, fulfilling research activities and publishing several books in the field of geophysics and geology, receiving ISO 9001, ISO/TS 29001, ISO 14001, ISO45001 and HSE – MS manual, signing and sealing a cooperation document between Islamic Republic of Iran and Republic of Azerbaijan in the field of joint operation of capacities and capabilities of Khazar, signing and sealing a Memorandum of Understanding (MoU) between National Iranian Oil Company and Norwegian ORG Company for conducting feasibility studies of Sardar Jangal Square and exploratory block numbers 24, 26 and 29.

Today, we announce with proud that expert and competent engineers of Khazar Exploration and Production Company managed to materialize most objectives of oil and gas development projects in a way that Islamic Republic of Iran entered the club of oil and gas activities in the depth waters of the world for the first time in the Middle east region.

Benefited from latest knowledge and technology, neighboring countries have expressed their readiness to cooperate and collaborate with this prestigious company in relevant field.

It should be acknowledged that efforts, studies, measures and discoveries conducted by Khazar Exploration and Production Company in the Caspian Sea can play an outstanding role in promoting Iran’s status in terms of hydrocarbon reserves in the international communities.


Sep 18, 2019 21:36
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KEPCO amid many other companies is a subdivision of National Iranian Oil Company (NIOC) founded in January 1998. KEPCO is an authority in exploration, development and production of oil and gas in Iran concerning South Caspian Sea and three littoral provinces of Golestan, Mazanderan and Gilan in Iran. KEPCO supervises all the contracts signed by local and international companies regarding exploration and development of hydrocarbon reserves in the area including the pertinent environmental matters. KEPCO is committed to the development of Caspian Sea oil and gas reserves as well.