Iran's oil exploration block given to Iranian company
Baku, Azerbaijan, Feb. 25
By Elnur Baghishov – Trend:
The right for exploration in Iran’s oil exploration block has been given to an Iranian company for the first time, Trend reports referring to Shana News Agency.
A contract has been signed between the Exploration Dept. of National Iranian Oil Co. (NIOC) and Iranian E&P Negin Afagh Kish Energy Development Co. (TENCO).
According to the report, the contract was signed between Saleh Hendi, Director and Exploration Manager of National Iranian Oil Company, and Omid Asakereh, CEO of the E&P Negin Afagh Kish Energy Development Co. (TENCO).
According to the contract, TENCO, one of Iran's 17 intelligence and production companies with an operational license, will evaluate data on relief, geophysics and excavation around the Toudej block during a certain period of time.
After the evaluation, TENCO will present its report with a technical and financial proposal for exploration in this block.
During the signing ceremony, Saleh Hendi, Director and Exploration Manager of NIOC, said that a number of the 14 exploration blocks intended to be given to the private sector are - risk factors and technical and financial aspects considered - at a level good enough for being handed over to Iranian companies. Iranian companies can take this risk and provide the necessary investment.
TENCO CEO Omid Asakereh said that TENCO has chanced the risk of Toudej exploration block and hopes for satisfactory results.
The Toudej exploration block is located in Iran’s southern Fars Province, in an area of 8,611 square kilometers.