BAKU, Azerbaijan, Feb. 8
By Elnur baghishov – Trend:
An agreement on increasing the production and development of Parsi and Paranj oil fields in southwestern Iran was signed between the National Iranian South Oil Company (NISOC), belonging to National Iranian Oil Company (NIOC) and Mapna Group, Trend reports referring to the NIOC’s website.
The agreement was signed between NISOC Executive Director Ahmad Mohammadi and Executive Director of Mapna Group Abbas Aliabadi. The signing ceremony was also attended by Iranian Oil Minister Bijan Zanganeh.
MAPNA Group is a group of Iranian companies involved in development and operation of thermal and renewable power plants, oil & gas, railway transportation and other industrial projects as well as manufacturing main equipment including gas and steam turbines, electrical generator, turbine blade and vane, HRSG and conventional boilers, electric and control systems, gas compressor, locomotive and other pertinent equipment.
According to the report, a number of projects for the development and commissioning of oil fields are being implemented in Iran.
Some 49 new wells will be drilled and 8 existing wells will be repaired under the agreement.
Iran's Parsi oil field is located 125 kilometers from Ahvaz city, the capital of Khuzestan province, and 75km from the Behbahan city. The Parsi field contains of 10.9 billion barrels of oil and the Paranj field contains 1.6 billion barrels of oil.
In March 2017, NISOC and Mapna signed an agreement for the development of Paranj and Parsi oil fields. As a result of these discussions, a 10-year agreement was signed Feb. 8. The agreement provides for the production of a maximum of 85,000 barrels of oil a day and a total of about 121 million barrels a day. Under the agreement, $876 million will be spent directly and $235 million will be spent on external work. At the same time, it is planned to spend $269 million for the development.