Russian Tatneft, Iran’s NIDC study mutual co-op

Business Materials 2 March 2018 09:31 (UTC +04:00)

Baku, Azerbaijan, March 2

By Gazenfer Hamidov – Trend:

Russia’s Tatneft oil company and the National Iranian Drilling Company (NIDC) discussed mutual cooperation.

A delegation from Tatneft, headed by Azat Safin, met with Sepehr Sepehri, the NIDC managing director in Ahwaz, on Feb. 27, where the sides exchanged viewpoints about the bilateral cooperation, the NIDC said.

Tatneft, Russia’s fifth biggest oil and gas company, is ready to cooperate with NIDC for EPCF (Engineering, Procurement, Construction and Finance) and EPDF (Engineering, Procurement, Development and Finance) projects, Safin said.

He also briefed the Iranian side about Tatneft's capabilities.

Sepehri, for his turn, said that the NIDC, holding 73 onshore and offshore drilling rigs, is responsible for main part of drilling operations in Iran’s oil and gas sector.

He further said the NIDC is ready to carry out drilling operations abroad in cooperation with the world’s leading oil and gas companies.

The sides also agreed to continue negotiations until concluding a cooperation agreement.

In June 2017, Tatneft was one of the new entries along with Russia’s Gazprom Neft and Rosneft, which National Iranian Oil Company added to its list of international companies eligible to bid for Iran’s massive oil and gas projects.

Last year, Tatneft signed a memorandum of understanding with National Iranian South Oilfields Company (NISOC) for carrying oilfield development studies on Shadegan oilfield in Khuzestan province.