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NIOC Signs Feasibility Study MOUs with OIEC, MAPNA

(Tuesday, May 09, 2017) 23:16

TEHRAN, May 09 (Shana) -- National Iranian Oil Company (NIOC) and Oil Industries Engineering and Construction Company (OIEC) have signed a memorandum of understanding for feasibility studies on Sepehr oil field.

The MOU was singed between Gholam-Reza Manouchehri, deputy head of NIOC for development and engineering, and Behzad Mohammadi, CEO of OIEC. 

OIEC is among 11 E&P companies qualified by NIOC to operate projects in upstream oil sector. 

Meanwhile, NIOC signed a separate MOU with MAPNA power project company for studies on Ab Teimour and Mansouri oil fields. 

MAPNA chief Abbas Ali-Abadi said at the ceremony that the company had operated projects valued at more than $50 billion. 

He cited MAPNA’s $2bn projects in Iraq, saying that the company had been involved in South Pars gas field development. 

Manouchehri said Ab Teimour could see its production from the current 50,000 b/d to at least 150,000 b/d, adding that there have been proposals for bringing its output to 450,000 b/d. 

Regarding Mansouri, he said that the field could raise its output to 300,000 b/d from the current 60,000 b/d.