Tag Archives | Petroleum Engineering and Development Company (PEDEC)

Extra Drilling Rigs to Boost South Azadegan

Twelve more drilling rigs will be added to the existing giant towers in the South Pars oil field in southern Iran upon signing of contracts with domestic and foreign firms, said an official in the Petroleum Engineering and Development Company (PEDEC). “The equipment will be installed by yearend. In the meantime, we expect activities to […]

Shell Delegation in Iran for Oil Talks

A delegation from global energy giant Royal Dutch Shell is visiting Iran for talks with the country’s oil officials. The delegation, which arrived in capital Tehran on Friday , will stay in Iran for four days, the local media reported. They are also scheduled to have separate meetings with Iran’s key banks, the Iran-UK Chamber […]

No Plan for Foreign Investment at S Azadegan

An official in the Petroleum Engineering and Development Company (PEDEC) said Iran has no plan, for the moment, to delegate development of its rich South Azadegan oil field to foreign contractors. “Domestic firms are busy with the projects,” Mahmoud Marashi (pictured), contractor of the field’s development, told Shana. “We will do our best to achieve […]

Russia’s Lukoil to sign MoU with Iran

By John Lee. Russia’s energy giant Lukoil is set to sign an MoU for boosting oil recovery, oil exploration and extraction with Iran, an Iranian deputy petroleum minister says. Cooperation was discussed between Minister of Petroleum Bijan Namdar Zangeneh and Lukoil Chief Executive Vagit Alekperov (pictured) in the wake of a new opening following the […]

Iran to Unveil New Oil Contracts in Nov

The Managing Director of the National Iranian Oil Company (NIOC) has said Iran will introduce its new oil contracts in early November in Tehran. “The first phase of contracts will be unveiled in November in Tehran and a follow-up conference will be held in one or two months in London,” Roknoddin Javadi (pictured) told reporters. […]

Iran, Iraq Discuss Azadegan Oilfield

By John Lee. Iraq’s Ambassador to Iran, Rajeh Saber Aboud al-Moussavi, has said that Tehran and Baghdad are in talks on investment in the joint Azadegan oilfield. The field, situated 80-100 kilometres west of Ahvaz in Khuzestan province, was discovered in 1999, and has reserves estimated at 33 billion barrels. It is already producing 50,000 […]