The National Iranian Oil Company Exploration Directorate (NIOCEXP) announced on Monday that the company has found a new oil reservoir in Dezful in the Southwestern province of Khuzestan.
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New oil and gas reserves have been discovered in Iran since last year.
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Total will operate the SP11 project with a 50.1 percent interest. while Iranian Petropars company will have a share of 19.9 percent and the Chinese CNPC 30 percent.
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IPC is the first Iranian oil contract that clearly stipulates a role for domestic oil and gas equipment manufacturers.
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Total signed a preliminary agreement last year to develop Phase 11 of the giant South Pars field in tandem with China'.s CNPC and its Iranian partner Petropars.
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New contracts with international oil majors will help create thousands of jobs and plough billions of dollars into the key petroleum industry. according to Reza Khayyamian. head of the Society of Iranian Petroleum Industries Equipment Manufacturers. If foreign companies come to Iran`s energy market and sign the (oil) deals. almost …
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