Mehr News Agency reported that Mr Masoud Mirkazemi oil minister of Iran and Mr Mohammed Al Ramahi oil minister Oman met recently starting a new round of talks on bilateral energy cooperation.

As per report, gas swap, gas transit, Iran’s gas export to Oman and bilateral investments in the gas sector are among the major topics discussed.

The development of the Kish and Hengam gas fields in the Persian Gulf and joint construction of petrochemical units are the other major topics that will be discussed during the upcoming negotiations.

Mr Seyed Reza Kasaeizadeh MD of the National Iranian Gas Company said earlier in August that Omanis need to purchase 2 billion cubic feet of gas from Iran for the country’s consumption. He said that the Kish gas field and the different phases of the South Pars gas field are being considered for gas exports to Oman.

Iran and Oman signed a deal in April to jointly develop Iran’s Kish gas field in the Persian Gulf at an estimated cost of between USD 7 billion to USD 12 billion. The 2 sides plan to complete the development of the Kish gas field by 2012.

The Phase I of the project will transport gas to Oman at a rate of 1 billion cubic feet per day which will then rise to 3 billion cubic feet.

During the talks in Tehran, the 2 neighbors are also to negotiate the details of the project including the extent of Oman’s investment in the development of the Kish gas field.

(Sourced from Mehr News Agency)