Baku, Azerbaijan, Oct. 17
By Fatih Karimov – Trend:
Pergas international consortium submitted its study results on Karanj oil field to the National Iranian South Oil Company (NISOC).
Iranian company’s CEO Bijan Alipour said that the proposal was submitted after 10 expert-level meetings between the two parties.
The NISOC reported that the proposal includes offers for increasing oil production and upgrading facilities as well as estimating the amount of needed investment.
Alipour said that the NISOC has also received a second proposal from another company, adding that NISOC will prepare the final proposal after reviewing and feasibility studies of the two offers.
Pergas International Consortium (PIC), comprising European, Asian and Canadian firms, established in 2001 as both service provider and procurement service to the oil, gas and petrochemical industry in the Eastern Hemisphere and has carried out many projects in Middle East, South East Asia and Africa over these years of operation.
The NISOC signed a non-disclosure agreement (NDA) with Pergas consortium in December 2016 to study two oil fields and submit the study results and development proposals to the NISOC within six months.
Under the agreement, the consortium undertook studies in Iran’s Karanj (including Asmari, Pabdeh and Khami reserves) and Shadegan (including Asmari and Bangestan reserves) oil fields.
The NISOC earlier announced that four fields of Parsi, Karanj, Rag Sefid and Shadegan, including nine oil reserves, are specified for development based on NISOC contract framework which is confirmed by Iran's oil ministry.
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.
Alipour earlier said that development of the fields will take five years per the contracts.
The contract framework is similar to the new model of oil contracts in repayment section and capital and wage payment will be possible out of half the production surplus to the baseline target.
The National Iranian South Oil Company operates as a subsidiary of National Iranian Oil Company. As Iran's largest oil company, NISOC is producing about 83 percent of all crude oil and 16 percent of natural gas produced in the country.