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The National Iranian South Oil Company may hold a tender for one or several oilfields in the fourth quarter of this year or the first three months of 2018 using its customized model of contracts. the company`s CEO said.
`Shadegan oilfield in the southern Khuzestan Province could be the first project that will be tendered by NISOC. but it depends on the National Iranian Oil Company`s approval of NISOC`s own model of contracts.` Bijan Alipour was also quoted as saying by the NIOC news website on Tuesday.
Shadegan Oilfield. located 60 kilometers south of Ahvaz. was discovered nearly half a century ago and started production in 1988 following the end of the eight-year Iran-Iraq war. Production from the field is now reportedly at 70.000 barrels a day.
NISOC is in charge of developing four oilfields in oil-rich Khuzestan. namely Shadegan. Rag Sefid. Karanj and Parsi with a total of nine reservoirs. based on a customized framework developed by the company.
The company has developed a contractual framework that shares the fundamentals of Iran Petroleum Contract. the country`s new framework of oil and gas contracts. but includes different technical and financial terms. IPC entails more attractive terms for cooperation and investment for multinationals.
The state-owned company operates 45 oil and gas deposits. It accounts for around 80% of total Iranian crude oil production and more than 15% of its gas supply. according to the company`s own data.
NISOC has held negotiations and signed agreements with various foreign companies on studying Iran`s hydrocarbon reservoirs.
According to Alipour. international energy consortium Pergas has completed its surveys on Karanj field and is finalizing Shadegan studies.
