National Iranian Oil Company studies proposals for three exploration and development Licences

November 14th, 2007 - 2:57 am ICT by admin  
According to media reports, the NIOC has said that it expects to sign the contracts for the three blocks before March, 2008.

The same reports said that NIOC’s Director of Exploration, Dr Mahmoud Mohaddes stated that a British company (the name of which was not disclosed), together with the Iranian Offshore Engineering and Construction Company had submitted technical proposals for the exploration and development of the offshore Laleh block, while a consortium made up of Austria’s OMV,

Turkey’s Petrol Ofisi and Iran’s Petropars did the same for the onshore Danan Block. NIOC did not disclose which companies were involved in the Dayyer block.

OMV will be the operator of the Danan Block, if the consortium is awarded the relevant contract, while Petrol Ofisi and Petropars will have a stake of 33 percent each.

The Austrian company has recently announced an oil find in Mehr with estimated reserves of about 150 million barrels of oil and potential capacity of 40,000 barrels a day.

The Laleh, the Dayyer and the Danan block were among the 17 blocks tendered earlier this year under the revised buyback terms. (ANI)

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