Yadavaran Field
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Yadavaran Field is an oil field located in Khuzestan, Iran. The name is new, as the field is made up of two former fields, Koushk (discovered in 2000) and Hosseinieh (discovered in 2002). After researchers discovered that the two fields were actually connected, the field was renamed as the Yadavaran Field. The field is estimated to have reserves of up to 17 billion barrels (2.7 km³) of oil, with 3 billion barrels (0.5 km³) considered to be recoverable.
On October 29, 2004, Iran negotiated a $70 billion deal with Sinopec, giving the Chinese company a 51% stake in the field's development. As part of the deal, China agreed to buy 10 million metric tons of liquified natural gas (LNG) from Iran per annum for 25 years.
On January 7, 2004, Iran negotiated a $40 billion deal with ONGC Videsh Ltd (OVL), giving the Indian company a 20% stake in the field. As part of the deal, India agreed to buy 7.5 million metric tons of liquified natural gas (LNG) from Iran per annum for 25 years. India also gained a 100% stake in the Jeyfr oil field (estimated capacity of 30,000 barrels a day) through OVL.
The remaining share (29%) of the oil field is owned by the National Iranian Oil Company. The field is projected to begin production in 2009.
