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NIOC & PEDCO Sign Oilfield Study MoU

According to this agreement, the study, evaluation and assessment of Danan and Susangerd fields were awarded to PEDCO. The agreement was signed by Gholamreza Manouchehri, NIOC’s deputy for development and engineering and Roham Ghasemi, PEDCO's managing director, in Tehran on Wednesday January 17th 2018.

The agreement is the first MoU in the new oil contracts frame (IPC) between PEDCO and NIOC. According to the terms of this MoU, PEDCO will study the development of Danan and Susangerd Oilfields and submit its proposal within 6 months to NIOC. Danan Oil field is located 80 Km NW of Andimeshk and 30 km South of Dehluran in Ilam province and Susangerd Oil Field is located 45 km of NW of Ahwaz in Khuzestan province. The reservoirs of Danan and Susangerd are Asmari and Bangestan, contain around 2080 MMBbl and 5633 MMBbl oil in place respectively.

 Manouchehri stated that Petroiran is one of the companies qualified by NIOC as an Iranian E&P company and has a valuable history in Petroleum industry and enhancing the capabilities of this company can ensure continuity of its activities in Iranian oil and gas industry. He also mentioned that PEDCO has already completed successfully, developing the first phase of South Pars Oil Layers in the Persian Gulf, recently.

Manouchehri noted that Based on NIOC’s policy to support domestic firms to play an active role in developing oil and gas fields , it has planned to assign some small and medium size fields to Iranian E&P companies. For this purpose, development and investment packages have been prepared to help enhancing oil recovery initiatives that will be implemented in the form of EPCF contracts which both foreign and domestic firms can participate in the related tenders.

Manochehri, finally stated that so far NIOC has signed 32 MoUs with international and domestic companies with the aim of exploring the country's hydrocarbon deposits and accordingly more than 100 proposals are supposed to be submitted to NIOC ,of which 45 proposals have been delivered.

NIOC & PEDCO Sign Oilfield Study MoU
Created Date: Sunday, January 21, 2018 5:42 PM

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