image description
image description
Tell A Friend

FinancialNews


  • 24-10-19

    NIOC awards local firm to explore oil gas

    (MENAFN) A memorandum of understanding (MoU) along with a confidentiality agreement was signed between The Iranian Offshore Engineering and Construction Company (IOEC) and the NIOC in Tehran, shoving further into a field which until recently was a guarded area of the foreign jurisdiction, Shana reported.

    It"s only the second time a local company awarded with an exploration agreement since an Iranian firm won a deal last year to explore and produce oil at a block in Fars Province.

    Under the new agreement, IOEC has accepted "to evaluate the geological, geophysical, and drilling information related to block Bamdad within a specified timeframe and, at the end, submit its assessment report along with technical and financial proposals for exploration operations in the block."

    The exploration expenses for the Bamdad oil and gas block, with an area of 2.697 kilometers in the Persian Gulf, is estimated to amount to USD83.5 million.

    MENAFN2410201900450000ID1099172967

Follow us

RSS
Terms & Conditions  |  Privacy & Security  |  Contact Us  | Sitemap
© 2024 BBK  |  All Rights Reserved