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Iran to open tender for exploration of 14 oil blocks

Business Materials 7 May 2018 16:36 (UTC +04:00)

Tehran, Iran, May 7

By Kamyar Eghbalnejad - Trend:

Iran plans to hold tender for exploration of 14 oil blocks in J‎uly 2018, Seyed Saleh Hendi, the exploration director of the National Iranian Oil Company (NIOC), said.

He expressed hope that the projects’ contracts be signed by the end of this fiscal year (started March 20), SHANA news agency reported May 7.

"It is forecasted that among on 6 of 14 of exploration blocks, contracts with foreign investors will be signed, Hendi said.

He put the areas of the blocks at 80,000 square kilometers, adding that Austria's OMV, Russia's Lukoil, China's CNPC and etc are eager to work in the blocks.

Hendi also expressed hope that among the 14 presented blocks, with half of them located at Zagros and Persian Gulf area, at least 4 blocks will become commercial and economic.

Today the NIOC unveiled 14 exploration blocks across Iran, up for domestic and foreign investment during a ceremony in Tehran, on the second day of the Iran Oil and Gas Show.

The blocks are located in six sedimentary areas in Iran. Moreover, three offshore blocks are located in the Persian Gulf and three onshore in northeastern Iran.

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