SHANA – An official with the National Iranian Oil Company (NIOC) says the company gains updated information about Iran’s oil and gas fields for free by signing MoUs with international oil companies for carrying out studies over the fields.
Addressing a ceremony to sign a memorandum of understanding (MoU) for studies over development of two iranian oil and gas fields with the ENI on Tuesday, Gholamreza Manouchehri, NIOC’s deputy of development and engineering, said by considering the result of the studies carried out by major oil and gas developers over Iran’s fields, NIOC will be able to receive valuable information about the fields without having to pay any prices.
Such information like the volume of the reserves, and the rate of recovery from the fields can be gained from the studies, he said.
The official also said that the newly-devised model of oil contracts which are being used for developing the fields have considered adoption of EOR and IOR methods for boosting recovery rate of the fields over the contract periods.
NIOC and ENI inked the document on Tuesday at NIOC’s headquarters in Tehran.
Based on the deal, Eni will carry out appraisal studies for developing the two fields and will seek out Iranian or foreign partners for the project, said Ali Kardor, managing director of NIOC, during the signing ceremony of the MoU.
So far NIOC has signed 75 similar documents with foreign and Iranian developers and has so far received the results of studies for 22 projects.