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Russian Tatneft signs MoU with Iran on oilfield study

Business Materials 6 March 2017 12:08 (UTC +04:00)

Baku, Azerbaijan, March 6

By Fatih Karimov – Trend:

National Iranian South Oil Company (NISOC) and Russian Tatneft signed a memorandum of understanding based on which the latter will conduct a study over Iran’s Shadegan oilfield.

Under the MoU, the Russian side will prepare a development plan for two reserves of Asmari and Bangestan in Shadegan field, based on NISOC contract framework confirmed by Iran's Oil Ministry, the NISOC said in message.

Tatneft 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 has earlier signed deals with Schlumberger, Tenco (affiliated to IRGC), Pergas (a consortium of international companies), MAPNA Group and Persia Oil & Gas Industry Development Co. for carrying out development studies of four fields of Parsi, Karanj, Rag Sefid and Shadegan, including nine oil reserves.

The nine reserves include Asmari, Pabdeh and Khami in Karanj field, three reserves in Asmari, Bangestan and Khami in Rag Sefid field, Asmari field in Parsi field and two reserves of Asmari and Bangestan in Shadegan field.

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