NISOC to Decide Fate of 2 Oilfields by March 2018

The managing director of National Iranian South Oil Company (NISOC) said the company is planning to develop 4 oilfields in Iran, adding the fate of two of the fields will be determined by the end of the current calendar year to March 20 2018.

Bijan Alipour said NISOC is considering development of Karanj, Parsi, Rag Sefid and Shadegan oilfields under the framework of its newly-devised contract model and in a field-oriented fashion.

He said the company will sign its first contract in the framework of the newly devised model by January 2018, based on which the contractors will have a period of 6 months to study technical plans and proposals for developing the fields.

The projects are aimed at boosting crude production from the fields, he said.

NISOC is the biggest supplier of crude in Iran, supplying over 80% of the country’s oil output.

(Source: Shana)

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