MNA– ICOFC managing director has announced that 20 projects for development of oil and gas fields or enhancement of oil recovery will be put out to tender.
Manager of Iran’s Central Oil Fields Company (ICOFC) Salbali Karimi said 20 developmental projects in central areas of the country have been put on the agenda and will be carried out in partnership with major international companies.
He underlined that 10 international tenders will be sought for the intended projects asserting “accordingly, projects to increase oil recovery factor, with joint oil fields with Iraq in priority, will be assigned to credible international companies.”
The official, while noting that several agreements to conducts oil recovery studies on west Iranian fields have been inked with Gazprom, Tatneft, Lukoil, Zarubezhneft, Austria’s OMV, Wintershall Holding GmbH of Germany Malaysia’s PETRONAS, Pertamina of Indonesia as well as Thai Oil among the others; “contracts for development of 10 Iranian oilfields will soon be sealed with domestic and foreign companies.”
Karimi underscored that the most number of cooperation agreements for expansion of fields in central parts of Iran have been so far inked with Russian firms.
He recalled that the projects aim to boost crude output by 100 thousand barrels per day estimating that about two billion dollars of investment needs to be done.
ICOFC managing director went on to stress that in addition to oil fields, development of six gas field in Zagros region is also pursued by the Iranian gas industry in the post-JCPOA era; “the current capacity for gas production in central regions of Iran amounts to 300 million cubic feet.”
“In time with expansion of new gas fields, ICOFC also intends to increase recovery factor in some Iranian fields by installation of gas compressors for which Engineering, Procurement, Construction and Finance (EPCF) investment will be attracted.”
Karimi further maintained that 8 to 10 drilling rigs were active in oil gas fields of central areas reiterating that majority of rigs were located in the joint fields with Iraq.