TEHRAN – Amir Hossein Zamaninia, Iranian Deputy Oil Minister for International and Commercial Affairs, says London has announced readiness to pay Iran’s share of revenues from Rhum joint gas field as early as sanctions against Iran are eased, the SHANA News Agency reported on Sunday.

Zamaninia held a meeting with British chargé d'affaires to Iran Ajay Sharma on Saturday. The meeting pivoted around oil extraction from old fields, development of joint fields, and enhanced oil recovery.
The offshore Rhum gas field is located 240 miles (390 km) northeast of the Scottish city of Aberdeen in the North Sea. It is being developed under a joint venture by Iran and Britain. The contract to explore the gas field was inked in 1973, finally leading to the discovery of the gas field in 1977.
Last year, BP said it restarted production at the field nearly four years after the oil major was forced to halt output owing to sanctions against Iran in 2010.
AK/