Signing a 20-year contract between Russia and Iran and handing over the gas resources of northern Iran to Russia

Signing a 20-year contract between Russia and Iran and handing over the gas resources of northern Iran to Russia

According to the Oil Price report (news link), in this 20-year contract between Russia and Iran, Moscow will be given the right to develop several oil fields, including a gas field in the Caspian Sea.

This media further added: In 2019, Russia played a key role in changing the legal status of the Caspian Basin and reduced Iran’s share from 50% to only 11.875% in this process.

Estimates indicated that Chalus holds about 124 billion cubic feet (bcf) of gas. This is equivalent to about a quarter of the gas reserves that exist in the giant natural gas field of Iran’s South Pars, which constitutes about 40% of Iran’s total estimated gas reserves and about 80% of Iran’s gas production.

New estimates indicate that this gas basin is a twin field with a distance of 9 kilometers from each other. The big Chalus has 208 billion cubic meters of gas and the small Chalus has 42 billion cubic meters of gas, which has a total of 250 billion cubic meters of gas.

This oil media further wrote that the privilege of developing some oil and gas fields in Khuzestan and Ilam will be given to the Russians.

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