Baku, Azerbaijan, Feb. 13
By Fatih Karimov – Trend:
The National Iranian South Oil Company (NISOC) signed a non-disclosure agreement (NDA) with one of the domestic companies for development of the Shadegan oilfield.
Under the agreement, Tenco, a subsidiary of Khatam-al-Anbiya construction group, will prepare a development plan of the field, based on NISOC contract framework confirmed by Iran's Oil Ministry, the NISOC announced.
Tenco should submit its proposal for the field’s development to the NISOC within 6 months.
The NISOC, Iran's largest oil company, produces about 83 percent of crude oil and 16 percent of natural gas in the country. The company earlier announced that four fields of Parsi, Karanj, Rag Sefid and Shadegan, including nine oil reserves, are specified for development based on the NISOC contract framework.
Khatam-al Anbiya, affiliated to the IRGC, is among the 11 corporations and conglomerates approved by the National Iranian Oil Company (NIOC) to develop new oil and gas projects under the Iran Petroleum Contract (IPC).
Earlier in January, the NIOC signed a memorandum of understanding with Tenco to study five gas and oil fields.
According to the terms of the MoU, based on the new model of Iran's oil and gas contract, aka IPC, Tenco will conduct studies on South Azadegan, Mansouri and Ab Teimour oil fields as well as on Farzad-A and Farzad-B offshore gas fields.