News ID: 207128
Published: 0314 GMT December 29, 2017

Zarubezhneft submits study result on Iran oilfield to NISOC

Zarubezhneft submits study result on Iran oilfield to NISOC

Russia's Zarubezhneft submitted the result of its studies on Iran's Shadegan Oilfield to National Iranian South Oil Company (NISOC).

NISOC's Director for Technical Affairs Hamid Deris said his company has so far signed five memorandums of understanding (MoUs) with several companies to develop the field of which three have so far put forward their proposed development plans, Shana reported.

He said a master development plan is being drawn up based on the proposed plans submitted by candidate developers for the project.

NISOC and Zarubezhneft signed an MoU in July for the latter to implement the project to develop Iran's Shadegan Oilfield which is located in Khuzestan Province.

It was discovered in 1968 and the production began following the installation of production facilities in 1988. The field is 23km in length 6km in width and includes two Asmari and Bangestan reserves and currently has 20 active wells with oil production standing at about 69,000 barrels per day (11,000 m3/d).

JSC Zarubezhneft is a Russian state-controlled oil company based in Moscow that specializes in exploration, development and operation of oil and gas fields outside Russian territory. Sergey Kudryashov is the company's director general and Nikolay Tokarev is the chairman of the board.

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