An official with the National Iranian South Oil Company (NISOC) said negotiations with the potential developers of Iran’s Karanj and Shadegan oilfield will conclude by the end of the current fiscal year to March 20 2018.
Hamid Deris, director of NISOC technical affairs, said NISOC experts are satisfied with the proposals submitted to the company by Pasargad Energy Development Company for developing Shadegan oilfield, adding besides the Iranian company, 4 other candidates have signed memoranda of understanding (MoUs) with NISOC for developing the field and will present their proposals to the company next week.
He said a time period of 6 to 8 months is normal for submission of proposed plans for developing a field.
Deris said studies on Karanj and Shadegan oilfields have concluded and a contact for developing the fields will be signed before late January.
NISOC contributes to over 80% of Iran’s nearly 4 mbd crude oil output.