Tag Archives: Oil Industries Engineering and Construction Co. (OIEC)

The first phase of Azar join oilfield will become productive soon, Head of Oil Industries Engineering and Construction (OIEC) Group Gholamreza Manouchehri announced. “Given the 97 percent progress of the joint field’s development plan, the first phase of this project is being operated and will be officially inaugurated soon,” Manouchehri …

Iran’s petroleum industry went through a tough and breathtaking period in the calendar year 1398 (ended March 19) as the United States tightened its sanctions on this sector.

The IOEC signed an initial agreement with the NIOC to explore oil and gas in block Bamdad in the Persian Gulf. the Ministry of Petroleum’s news outlet disclosed today.

The Oil Industries Engineering and Construction and Negin Afagh Kish Energy Development Company have expressed their readiness to step in sophisticated exploration projects in Iran.

The two sides agreed to let NIOC set up a representative office in Iraq to facilitate activities by Iranian producers.

Azar holds 2.5 billion barrels of crude oil and is one of the joint fields with Iraq.

With 137.6 billion barrels of proven reserves. Iran has the world’s fourth largest crude deposits.

Oil extraction from Azar joint field will reach 30.000 bpd in coming days.

Azer is a joint field betüeen Iran Iraq. with 2.5 billion barrels of in-situ reserves and 16 percent recovery rate.

Resources from the National Development Fund of Iran (NDFI) and OIEC are being tapped to complete the project.