Baku, Azerbaijan, Nov. 23
By Fatih Karimov – Trend:
The National Iranian South Oil Company (NISOC) signed a non-disclosure agreement (NDA) with Pergas international consortium to study two oil fields.
Under the agreement, the consortium comprising 11 European, Asian and Canadian firms will undertake studies in Iran’s Karanj (including Asmari, Pabdeh and Khami reserves) and Shadegan (including Asmari and Bangestan reserves) oil fields and will submit the study results to the NISOC within six months, SHANA news agency reported Nov. 23.
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.
Bijan Alipour, managing Director of the NISOC said last month that the talks are underway with more than 22 European and Asian companies for development of the fields entrusted to the NISOC within framework of the contract adopted exclusively for the NISOC.
Alipour added 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, he said.
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.