Iran to issue first oil tender based on IPC in 4 weeks
Baku, Azerbaijan, Jan. 10
By Dalga Khatinoglu – Trend:
Iran is set to issue the first tender based on newly designed oil contracts, called Iran Petroleum Contract, in four weeks, Gholamreza Manouchehri, deputy director of the National Iranian Oil Development and Engineering said Jan.10.
He said that documents are almost ready and the first tender would be on developing the South Azadegan field.
Iran recently released the list of names of 29 local and foreign companies, qualified to participate in the IPC tenders. ran introduced the IPC to foreign companies in November 2015. About 49 projects were offered.
Azadegan field has been divided to north and south parts. Iran produces 50,000 b/d of South Azadegan and another 30,000 b/d would be added to this volume in the near future. Then the level would reach 110,000 b/d and 320,000 b/d gradually in two steps, after another 132 wells are drilled in the field.
The second phase of South Azadegan would add another 280,000 b/d of barrel to the output.
The first tender based on IPC would be issued on South Azadegan development plan. The reserves of South Azadegan are estimated at 25.34 billion barrels with 8.2 percent recovery rate.
Iran expects the foreign companies increase the recovery rate.
Coming to the north side, currently 73,000 b/d of oil and 1.1 million cubic meters per day (mcm/d) of associated gas is produced from North Azadegan. After commencing the second phase of North Azadegan, the output would reach 150,000 b/d.
Currently five foreign companies, including France’s Total and Japan’s Inpex are studying the Azadegan field, based on confidentiality agreements.