Oil majors submit surveys to develop Iran’s Azadegan

24 Comments on "Oil majors submit surveys to develop Iran’s Azadegan"

rjk on Sat, 10th Jun 2017 10:08 pm 



This is typical of mainstream media reporting any figure they can thing of. The A.A.P.G. data base for the World’s Giant Oil and Gas fields show that this field had A URR of 4560 BBO, was discovered in 1999, depth 10089′. Lat 31.2952 Long 478225 and as at September 2013 had 3013 BBO remaining based on a depletion rate of 3.4%. A carbonate, limestone structure. This article is off by a long way. Ahwaz had a URR of 25591 and Marun 21962 being their two largest fields.

Go Speed Racer on Sun, 11th Jun 2017 5:45 am 



It’s our oil.
Pump it out from under their feet.

Cloggie on Sun, 11th Jun 2017 6:26 am 



It’s our oil. Pump it out from under their feet.

Why is it yours? The Iranians threw out the Americans and their Shah puppet in 1979…

https://en.wikipedia.org/wiki/Iranian_Revolution

…and the Americans haven’t forgiven the Iranians ever since that they escaped from the US empire.

Since 1979 US continuously attempted to expand its empire. Results:

– Eastern Europe after 1989. But they are uneasy puppets and refuse American demands to let themselves being overrun by Africans and Muslims
– Russia after 1991. But thanks to Putin Russia managed to escape from the US grip after 2000 until today, which explains US hostility towards Russia. Russia is THE major hope for European right-wingers (including me) to finally get rid of these European civilization destroyers. #PutinIsGod
– Pakistan: lost to China recently
– Iraq: was invaded on a pretext but the US never managed to really colonize it
– Afghanistan: same story
– Turkey: flirting with the idea to abandon the West
– Egypt: managed to break away from the US empire thanks to the Arab Spring (#MuslimBrotherhood). Revolution was reversed thanks to a US backed military coup. Dictator Sissi now staunch US (read: Israeli) vassal
http://www.jta.org/2017/04/06/news-opinion/politics/egypts-sisi-meeting-jewish-leaders-is-optimistic-on-israeli-arab-peace
– Syria: US/UK initiated the civil war by arming Jihadists (just like they armed bin Laden in Afghanistan at the time). Thanks to Vlad the Great, as well as the behavior of US client ISIS, the overthrow failed so far and probably will fail completely
– Libya: overthrow of Khadaffi was delegated to the kosher bunch Sarkozy-Levy. Country now in chaos and nobody owns it
Qatar: is secretly using its money to subvert the US empire by subsidizing anti-Western Muslim Brotherhood. For this reason it is quietly backed by both Iran and Turkey (forget non-existing/exaggerated Sunny-Shia divide) and attacked by US allies KSA, Egypt and UAE.
– Jordan: US ally, desert, no oil, unimportant
– USA: fascinatingly, in November 2016 America itself (European American deplorables rather) managed to escape from the US empire (or from its deep state rather, hi George Soros, hi apneatard!). The Washington establishment/deep state and its media doesn’t accept this escape and tries to get the hijacker hanged. This is going to be fun! This state of affairs is a real disaster as it shows that the deep state is not as powerful as it likes to think it is.
– China: never was a US vassal, but since 2007 engaged itself in a undefeatable defense alliance with Russia, which is sufficient to “sit out” the US empire, until the latter finally descends in third world status and chaos. #1776-2.0 China waits for the suitable moment to militarily challenge the US in the South China Sea, with as its main price: Australia and New Zealand #RIP-Anglosphere
http://nationalinterest.org/feature/america-australias-dangerous-ally-11858

Davy on Sun, 11th Jun 2017 6:43 am 



Clog, if your stupid Europe’s leadership didn’t fail in the early 20th century an American empire never would have materialized. Except the part you play in all this. I know you will get to the part the US played in Europe’s failure but you fail to mention why Europe was not strong enough to lead itself through your mythical American intervention. You can point fingers and blame but you are incapable of accepting failure. This is typical of failed peoples. It is always someone else that caused the problem for those who are in the deepest denial. Besides GSR is being funny and you are answering a joke with whining. GSR put out some bait and you took it. Looks like you are the joke.

Davy on Sun, 11th Jun 2017 7:01 am 



Clog you fake Euro prosperity has yet to face its biggest challenge, Italy. You could bail out Greece but good luck digesting Italy. I have heard all your excuses before but none are big enough to solve this problem. This is not going away but people like you never discuse it. Clog have you heard of extend and pretend?
“When Will The European Super-Bubble Pop?”
http://www.internationalman.com/articles/this-super-bubble-is-about-to-pop

“Right Now, Italy is Europe’s Weakest Link. Italy has one of the most indebted governments in the world. It’s borrowed over $2.4 trillion. Its debt-to-GDP ratio is north of 130%. (For comparison, the US debt-to-GDP ratio is 104%.) But the situation is actually much worse. GDP measures a country’s economic output. However, it’s highly misleading. Mainstream economists count government spending as a positive when calculating GDP. A more honest approach would count it as a big negative. In Italy, government spending accounts for a whopping 50%-plus of GDP. Remove that from the calculation, and I suspect we’d see how hopelessly insolvent the Italian government truly is. In other words, Italy is flat broke. I don’t see how the Italian government could possibly extract enough in taxes from the productive part of the economy to ever pay back what it’s borrowed.”

“Meanwhile, Italian Government Bonds Are in a Super Bubble They’re currently trading near record-low yields. (When bond prices go up, bond yields go down.) Over $1 trillion worth of Italian bonds actually have negative yields. It’s a bizarre and perverse situation. Lending money to the bankrupt Italian government carries huge risks. So the yields on Italian government bonds should be near record highs, not record lows. Negative yields could not exist in a free market. They’re only possible in the current “Alice in Wonderland” economy created by central bankers. You see, the European Central Bank (ECB) has been printing money to buy Italian government bonds hand over fist. Since 2008, the ECB and Italian banks have bought over 88% of Italian government debt, according to a recent study. This is stunning. It means that Italy’s financial system depends completely on ECB money printing. Italian government bonds are, without a doubt, in super-bubble territory. It won’t be long before a pin pricks this bubble and… pop. That could happen soon. Earlier this month, the credit rating agency Fitch downgraded Italy’s credit rating from BBB+ to BBB. And Mario Draghi, the head of the ECB, recently announced that after five years of manic money printing, he’s finally achieved his wrongheaded goal of 2% inflation.”

Cloggie on Sun, 11th Jun 2017 7:10 am 



Clog, if your stupid Europe’s leadership didn’t fail in the early 20th century

In the early 20th century there was no such thing as “stupid European leadership”, only stupid leadership of individual competing European countries, who could not imagine that there ever was going to be anybody but them running the show.

an American empire never would have materialized.

That’s partly true. The other half of the the truth is that the US was taken over by those people, you never want to talk about. Without them European Americans would never have contemplated to let themselves being used in futile British attempts to continue the 19th British Century, b destroying Germany twice.

I know you will get to the part the US played in Europe’s failure but you fail to mention why Europe was not strong enough to lead itself through your mythical American intervention.

Correct, the US played the decisive role in ending WW1 by helping the British to victory (in return for US Jews getting Israel from the British; European Americans were simply used in a deal between the British and American Jews and had nothing to say). And American Jews played the leading role in getting WW2 started. WW2 = war of the Jews against the core of the white race, Jews won. And now they will go after you, as soon as they have Trump buried.
#ProudToBbeAnAmerican

Mythical?

http://i.huffpost.com/gen/3804930/images/o-DRESDEN-BOMBING-facebook.jpg

Every German city was like this. Nothing mythical about it. How many American cities did the Germans bomb? Looks still better than Hiroshima. America applies harsh measures if it wants to colonize somebody.

This is typical of failed peoples.

Your kosher overlords may have won a battle in 1945, thanks to the services of not too bright European Americans, but now these overlords are ripe for the slaughter themselves.

Besides GSR is being funny and you are answering a joke with whining. GSR put out some bait and you took it. Looks like you are the joke.

I’m not whining at all, just blowing up self-serving stories invented by the US deep state. The only reason why I am so upbeat is because I know the tide is turning, to our European advantage.

The US deep state no longer has any friends, apart from Macron, Merkel, KSA and Egypt.

European America has managed to escape from the deep state, thanks to Trump and they won’t be driven back in the PC corral anymore. And they have guns.

The only ones here with real problems are bobinget, derhund and probably even you, Davy. Because you have to make up your mind about on whose side you really are: the deplorables or kosher run Washington. Soon there will be no escape from that terrible decision. In your case I have no clue about how you are going to decide. Probably because you have no clue yet either.

Besides GSR is being funny and you are answering a joke with whining. GSR put out some bait and you took it. Looks like you are the joke.

I know he was (trying to be) funny, I merely ceased, um seized the opportunity to lecture my trans-Atlantic cousins on history and geopolitics.lol

rockman on Sun, 11th Jun 2017 7:15 am 



Another analysis of the Azadegan Field:

History – The first exploration well was drilled in the field in 1976, but its discovery was confirmed after drilling the second well in 1999. The field has an approximate area of 350 sq mi.

Reserves – Iranian authorities claim that the Azadegan field has oil-in-place reserves of about 33.2 billion barrels and recoverable resources estimated at about 5.2 billion barrels. It is one of the NIOC Recent Discoveries and the biggest oil field found in Iran in the last 30 years.

Sarvak, Kazhdomi, Godvan, and Fahilan are productive reservoirs in the field. The current production is 40,000 barrels of oil per day. Crude oil produced from the Fahilan reservoir is light while the other reservoirs yield heavy crude.

rockman on Sun, 11th Jun 2017 7:18 am 



Cloggie – “It’s our oil. Pump it out from under their feet. Why is it yours?” Running joke based on the fact the US consumes a very disproportionate share of global oil production.

Cloggie on Sun, 11th Jun 2017 7:20 am 



Clog you fake Euro prosperity has yet to face its biggest challenge, Italy.

This Doug Casey chap is shouting that everything is going to collapse for years now. Not much forthcoming so far.

In contrast to Greece, Italy has a functioning economy. This Italian debt thingy is completely meaningless, because in contrast to the rest of the world, Italians basically are all living in paid-off real estate. These folks have no mortgages! So who cares about higher than average Italian public dept? In the worst case the Italians government can force the Italians to have a small mortgage on their real estate to bring public debt down. Because you are right, Europe is not going to bail out Italy. Greece was enough of a mistake, they should have let these deceivers fall flat on their face.

Cloggie on Sun, 11th Jun 2017 7:44 am 



Clog you fake Euro prosperity has yet to face its biggest challenge, Italy.

Straight from the horse’s mouth:

https://www.imf.org/external/pubs/ft/scr/2013/cr13348.pdf

The credit risk from Italian households is mitigated by their considerable net wealth.

The surprising truth is that Italy is Europe’s financially most solid country, more so than Germany. These crooks/libertarians (or both.lol) prefer to pay of their private debt including mortgage, rather than paying taxes. Good for them. Countries like Italy and Greece have weak states with great trouble collecting taxes. But the great difference between Greeks and Italians is that the latter are great talented people, with the world’s best food, most beautiful cities and the last time they seriously invaded other countries was 2000 years ago.lol

Here is the real truth: Italy is the only western country IN THE PLUS:

http://www.welt.de/img/wirtschaft/origs111865855/4259728-w900-h600/DWO-EU-27Nachhaltigkeitsran.jpg

Italy is the last country to worry about. Adorable people.

DerHundistlos on Sun, 11th Jun 2017 9:42 am 



The world according to Hair Clogged:

Cherrypicks financial data to support his political agenda. It references a 3+ year old report that uses a nontraditional approach to analyze risk to the banking sector from the residential real estate market. This report fails to mitigate the substantial risks associated with Italy’s substantial public indebtedness, and the situation has failed to improve since the publication of this report in 2014.

Why Italy’s banking crisis will shake the eurozone to its core:
http://www.telegraph.co.uk/business/2016/07/16/why-italys-banking-crisis-will-shake-the-eurozone-to-its-core/

Italy could trigger Europe’s next financial crisis:

http://www.marketwatch.com/story/italy-could-trigger-europes-next-financial-crisis-2016-01-21

Why Italy’s banks could ignite a eurozone crisis:

http://www.marketwatch.com/story/why-italys-bank-crisis-could-be-ticking-time-bomb-2016-07-21

DerHundistlos on Sun, 11th Jun 2017 9:45 am 



The world according to Hair Clogged:

‘Italy’s ace in the hole is the world’s best lasagna.’

Cloggie on Sun, 11th Jun 2017 10:19 am 



It references a 3+ year old report that uses a nontraditional approach to analyze risk to the banking sector from the residential real estate market. This report fails to mitigate the substantial risks associated with Italy’s substantial public indebtedness, and the situation has failed to improve since the publication of this report in 2014.

What you and your cherry-picked links do is isolating a specific problem, without judging the entire context.

There is essentially no difference between public and private debt, as public debt is the problem of all Italians combined. If you want to judge the Italian debt situation you should watch the ENTIRE Italian debt situation.

You do nothing to refute the arguments I made. There are always ways to make the Italian public pay for the public debt or Italian private banks.

DerHund should worry about his US, not Italy:

http://www.welt.de/img/wirtschaft/origs111865855/4259728-w900-h600/DWO-EU-27Nachhaltigkeitsran.jpg

Legend

Nachhaltigkeit – sustainability
Explizite Schuld – nominal debt (balance sheet debt)
Implicit Schuld – unfunded liabilities (pensions etc.)

Yes, an Italian banking crisis is very well possible, but the EU has long prepared what to do in that case: bail ins. Every asset over 100,000 simply evaporates. Too bad. Happened before in Cyprus:

http://www.zerohedge.com/news/2015-10-28/weve-all-been-warned-cyprus-bail-model-coming-country-near-you

Nothing will “collapse”, it is just that the rich were not as rich as they thought they were.

Next.

joe on Sun, 11th Jun 2017 10:23 am 



For anyone who pays attention. Might be worth its own post on the peakoil.com home page.

http://www.cnbc.com/2017/06/05/inverted-yield-curve-predicting-coming-recession-commentary.html

Davy on Sun, 11th Jun 2017 11:58 am 



“Because you have to make up your mind about on whose side you really are: the deplorables or kosher run Washington.”

I am on the side that is against the extremist. I am not obsessed with Jews and the deep state like you. They are taking care of themselves in their own death march to oblivion. My point is your side is a joke and you act like it is the next empire in the making.

Davy on Sun, 11th Jun 2017 12:01 pm 



“The surprising truth is that Italy is Europe’s financially most solid country, more so than Germany.”

Clog rant all day long how solid Europe is but that just makes you look ridiculous. I do not deny the problems you constantly bring up about the US even though you do it in an extremist way. My point is your Europe is the sickest of the group and the weakest geopolitically. You act like the opposite is true.

Davy on Sun, 11th Jun 2017 12:10 pm 



More trouble in clog’s wonderful Europe.

“Is Another Spanish Bank About To Bite The Dust?”
http://wolfstreet.com/2017/06/10/liberbank-spanish-bank-about-to-bite-the-dust/

“After its most tumultuous week since the bailout days of 2012, Spain’s banking system is gripped by a climate of fear, uncertainty and distrust. Rather than allaying investor nerves, the shotgun bail-in and sale of Banco Popular to Santander on Tuesday has merely intensified them. For the first time since the Global Financial Crisis, shareholders and subordinate bondholders of a failing Spanish bank were not bailed out by taxpayers; they took risks in order to make a buck, and they bore the consequences. That’s how it should be. But bank investors don’t like not getting bailed out.”

onlooker on Sun, 11th Jun 2017 12:25 pm 



http://www.express.co.uk/news/world/702873/European-Union-collapse-Euro-Brexit-financial-crash-Joseph-Stiglitz
Europe on the brink of COLLAPSE as ‘divorce’ is needed to prevent economic doom
THE European Union is on the brink of imploding, destroying the Euro and causing economic doom, according to a Nobel Prize winning economist
Well Clog?

Cloggie on Sun, 11th Jun 2017 12:35 pm 



Prize winning economist
Well Clog?

An American Jew named Stiglitz, in a year old article, in a British anti-EU newspaper Express, predicting doom of Europe after a Brexit election that now seems to be reversed?

Come on, onlooker, you can do better than that.

Cloggie on Sun, 11th Jun 2017 12:41 pm 



Wolfstreet who?

http://www.economist.com/news/finance-and-economics/21723143-european-bank-crises-go-was-orderly-one-banco-popular-fails-and

Banco Popular fails and is bought by Santander

One company takes over another, happens all the time.

Yawn.

Next.

This company BlackRock, the largest (Anglo) investment group in the world, with 5 trillion of assets, predicts a “golden decade” for Europe:

http://peakoil.com/business/coal-is-dead-and-oil-faces-peak-demand-says-worlds-largest-investment-group

http://www.spiegel.de/spiegel/globalisierung-europa-hat-die-aussicht-auf-ein-goldenes-jahrzehnt-a-1151389.html

This is more telling than the fate of some crappy Spanish bank.

bobinget on Mon, 12th Jun 2017 10:11 am 



http://af.reuters.com/article/energyOilNews/idAFL3N1J91UL

DUBAI/SINGAPORE, June 12 (Reuters) – Saudi Arabia, the world’s top oil exporter, will limit volumes of crude to some Asian buyers in July and deepen cuts in allocations to the United States, industry sources with knowledge of the matter said on Monday.

State-run oil firm Saudi Aramco would supply full contracted crude volumes to at least five Asian buyers mainly in North Asia and lower volumes for some customers in India, China and South Korea, the sources told Reuters on condition of anonymity.

IMO, if true, Aramco’s move will certainly raise
WTI at least $3 over summer.
Unless, one or more Iranian warships heading to the region are attacked.

Saudis are bleeding money at this point hoping to get (financial) help from Qatar, once rejected, is trying blackmail instead.

http://www.reuters.com/article/us-gulf-qatar-iran-oman-idUSKBN1920IG

bobinget on Mon, 12th Jun 2017 10:13 am 



Can we talk fraccing in The Permian?

Shale producers have three water problems. Two are upfront well-completion costs: sourcing water for the frac job and disposal of the flowback water from the frac job. These are nontrivial issues, but they pale in comparison to a much bigger problem – produced water – the water that always comes along with the oil and natural gas out of a well. It is a lot of water; on average in the U.S., somewhere around five to six barrels of water are produced for every barrel of oil that comes out of the ground, more from some basins than others. The Permian, for example, produces six to eight barrels of water per barrel of crude. That’s over 1,000 Olympic-size swimming pools full of water out of the Permian alone each day. And because this water is chock-full of minerals, petroleum residue and especially salt (which makes it brine), producers must dispose of the water in a safe, environmentally responsible manner. They are doing that today. But what happens if Permian production doubles —

bobinget on Mon, 12th Jun 2017 10:41 am 



What’s as clear as drilling mud? (back to subject)

“Tehran is looking to ramp up its crude output and with 37 billion barrels of oil, the Azadegan field is Iran’s largest, shared with its neighbor Iraq. It is located in southern Iran, 80 km west of the Khuzestan provincial city of Ahvaz.”

What we are witnessing is not just a culture clash but, since the timely death of OPEC, four oil dependent nations on collision course.
As everyone knows, oil tankers take many miles to radically change direction.

I feel safe drawing above analogy to illustrate the seriousness of today’s ME crude oil supply situation.

KSA will do anything to keep Iraq and Iran from bringing additional crude to market for the immediate future.

Being spectacularly unsuccessful in Syria and Yemen, KSA is now preparing to take on Iran.
Of course KSA is hoping for a localized war in and around Qatar. Another miscalculation, IMO.
(no one EVER wins)

As a side bet. If oil prices skyrocket as we should expect, China will then demand Venezuela begin repaying debt with crude as promised.
Since this OPEC member has perhaps made the greatest sacrifices for Saudi dominance, it’s doubtful they will reject China’s handouts.

Translation: US gets screwed from ass to teakettle.

Kenz300 on Wed, 14th Jun 2017 11:39 am 



Adding investments to fossil fuels will lead to more stranded assets and investment losses.