Agreement on Iran’s Bamdad oil & gas block signed
BAKU, Azerbaijan, Oct. 22
By Elnur Baghishov - Trend:
Two Iranian companies have signed an agreement on the Bamdad oil and gas block with an area of 2,697 kilometers in the Persian Gulf, south-west of Iran’s Hormozgan province, Trend reports referring to the National Iranian Oil Company’s website.
Head of the National Iranian Oil Company Exploration Directorate (NIOCEXP) Seyed Saleh Hendi and Managing Director of Iranian Offshore Engineering and Construction Company (IOEC) Saeed Shad have signed the contract.
In accordance with the agreement, the geography, geophysics and drilling area will be assessed on the Bamdad block based on a four-month time schedule.
At the end of the evaluation, the IOEC will submit a report on technical and financial support for the exploration operation.
National Iranian Oil Company said that in the past, international companies were engaged in exploration on Iran’s blocks. However, on Feb. 24, 2019, for the first time, the Iranian Petrotenco company started exploration on the Toudaj block of the Persian Gulf.