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comment on the termination of the development of Jofeir Iranian oil field. According to the Belarusian side, the reason for such a decision is not Belorusneft failure to comply with its obligations under the contract with the Iranian side.
The contract to develop Jufeyr fields in Iran, signed in 2007, in implementation of which Belorusneft Production Association was involved as the contractor, provided for a phase-out development of deposits. The first stage was completed in September 2010," informed in the Belarusian Company.
"New data on geological structure of the field, which caused changes in the technical, financial and economic conditions of the project, were revealed while working on the project. With all this information available, Belorusneft decided to withdraw from the contract after the first stage. The termination of the contract at the end of any stage was stipulated by the contract itself," stated in Belorusneft.
