Band Karkheh Oilfield back again for Development

Executive manager of the project to develop Band Karkheh oilfield announced that OMV, the international, integrated oil and gas company based in Vienna, will begin developing the oilfield in the near future.

Fars News Agency quoted Alireza Zamani as saying on Tuesday, “The OMV will soon start development activities in Band Karkheh oilfield.”

Noting that the oilfield was discovered by OMV, he said, “The operation was carried out based on a discovery and development contract between the National Iranian Oil Company (NIOC) and the OMV firm.”

In a relevant development in January, an Iranian oil exploration and production (E&P) signed a memorandum of understanding (MoU) with Austria’s OMV for cooperation in upstream oil projects in Iran.

OMV and Dana Energy, a leading Iranian company involved in upstream oil and gas field development activities, signed a memorandum of understanding on January 20, 2017.

The parties agreed to evaluate possible upcoming development and redevelopment projects in the Iranian oil and gas industry. The document was signed in Vienna by S. Mostafa Khoee, Dana Energy board member and E&P president, and Johann Pleininger, OMV executive board member responsible for upstream division.

OMV has a long lasting partnership with Iran and entered the country in 2001. In 2016 the NIOC and OMV signed a memorandum of understanding to evaluate fields in the Zagros area in the west of Iran, for potential future development.

OMV also signed a joint study agreement with NIOC Exploration for the Fars area.

OMV entered Iran in 2001 as the operator of the Mehr exploration block in western Iran, leading to a successful discovery (of Band Karkheh) in 2005. Most recently, in announcing OMV’s strategy on February 18, 2016, OMV CEO Rainer Seele set Iran as one of the three development areas in the upstream portfolio.

(Source: PEDEC)

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