BAKU, Azerbaijan, Jan. 11
By Elnur Baghishov – Trend:
Eight contracts worth $1.21 billion were signed with Iranian companies to maintain and increase oil extraction in Iran today on (January 11), Trend reports citing the National Iranian Oil Company (NIOC).
According to the report, the National Iranian South Oil Company (NISOC) and Iran’s Petropars Operation and Management Company (POMC) have signed a contract on the Binak field in Bushehr Province. The value of the contract is $86 million and as a result, the extraction will increase by 4,000 barrels per day.
“At the same time, the NISOC and the Oil Industries Engineering & Construction Group (OIEC) of Iran have signed a contract on the Lali Bangestan reservoir in Khuzestan Province. According to the contract, $80 million will be spent and the extraction will increase by 3,000 barrels per day,” the report said.
In addition, a contract was signed between and the NISOC and Oil & Energy Industries Development Company (OEID) on the Sulabdar field in Fars Province. Under the contract, $49 million will be spent and the extraction will increase daily by 3,700 barrels, the report said.
According to the report, the NISOC and the Iranian Offshore Engineering and Construction Company have signed a contract to increase extraction from the 2nd and 4th reservoirs of the Gachsaran field between Kohgiluyeh and Boyer-Ahmad Province and Khuzestan provinces. A total of $101 million will be spent under the contract, and the extraction will increase by 18,100 barrels per day.
“Furthermore, another contract was signed between the NISOC and Iran’s Northern Mining Limited Company on the Golkhari field in Bushehr Province. According to the contract, $180 million will be spent and the extraction will increase by 8,300 barrels daily,” the report said.
Also, the NISOC and the Khatam al-Anbiya Construction Headquarter of Iran have signed a contract to increase oil extraction from the 2nd, 3rd and 5th reservoirs of the Ahvaz field in Khuzestan Province. About $281 million will be spent under the contract and the extraction will increase by 33,200 barrels per day, the report said.
According to the report, a contract also was signed by the NISOC, Machine Sazi Arak Co. (MSA), and SeaLand Engineering & Services on the Bibi Hakim oil field between Fars, Bushehr, and Kohgiluyeh, and Boyer-Ahmad provinces. In general, $120 million will be spent according to the contract and the extraction will increase daily by 4,000 barrels.
“Moreover, Iranian Offshore Oil Company (IOOC) and the Khatam al-Anbiya Construction Headquarter have signed a contract on the Rashadat field in Hormozgan Province. Under the contract, 319 million euro will be spent and the extraction will increase by 19,400 barrels per day,” the report said.
Iran has 33 projects to maintain and increase oil extraction. About 29 of them are onshore and 4 in offshore. In total, $6.2 billion will be spent on these projects. These projects will be implemented in Kermanshah, Ilam, Khuzestan, Kohgiluyeh, and Boyer-Ahmad Province, Bushehr, Fars, and Hormozgan provinces. Iran's crude oil extraction is expected to increase by an average of 280,000 barrels daily with the implementation of these projects, the report said.
So far, contracts have been signed on 23 of these projects and their implementation has begun.