Iran signs seismic exploration contracts for two oil fields
Tehran, Iran, Oct.14
National Iranian Oil Company (NIOC) and two Iranian companies have signed two contracts for Paniz and Basht seismic projects.
The two oil field seismic exploration projects would identify the zones in Khuzestan and Kohgiluyeh and Boyer-Ahmad Provinces, Trend reports citing IRNA.
The National Iranian Oil Company Exploration Directorate is expected to sign lengthy contracts in geophysics and magnetometer evaluation sector in the current Iranian year (started March 21 ,2019).
Paniz 3D seismic project contract is worth $714 million credit, set for 33 months. It involves work on 2,000 square kilometer in Shadegan, Abadan, Mahshahr and Darkhowin counties. The project would also cover the sediment in Dasht Abadan area.
The project would complete the 3D coverage of Dasht Abadan and aims to preserve and increase the hydrocarbon reservoirs, and identify new exploration potentials.
Basht 2D seismic project is set to run for 28 months, between Oil Exploration Operations Company and NIOCED, with a budget of $333 million budget, in Fars, Khuzestan and Kohgiluyeh and Boyer-Ahmad provinces. The project also aims to identify new exploration potential.
The operation and installing of equipment within both Basht and Paniz projects are to start in November.