Iran to Attend Uzbekistan’s E&P Tenders

Iran to Attend Uzbekistan’s E&P TendersIran to Attend Uzbekistan’s E&P Tenders

Iran plans to participate in new oil and gas exploration and production tenders in Uzbekistan in Central Asia, managing director of Oil Exploration Operations Company said on Wednesday.

“OEOC’s Tashkent representative office has recently been opened and the company will definitely be present in the country’s new exploration tenders,” Hamid Bord was also quoted as saying by Mehr News Agency.

Oil Exploration Operations Company is one of the most famous private companies in the field of oil and gas upstream activities.

Since 2006 and by transferring 100% of the company’s shares to Oil Pension Fund Investment Company, OEOC commenced its operations in three fields: exploration, drilling and subsidiary integrated drilling services.

Bord stressed that in addition to Uzbekistan, the company has held rounds of negotiations on taking over projects in India and Oman.

The official noted that the Iranian company has tendered for Indian oil and gas exploration and the Indian employer accepted the technical section of the OEOC’s bid, but the two sides did not reach an agreement on the project's price.

“Although many exploration projects across the world, especially in the Middle East, have been canceled or delayed due to the global oil price slump, we are seeking participation in international oil and gas tenders in the Central Asian and Persian Gulf countries,” he said.

Oil prices plumbed 12-year lows below $30 in the first quarter on the global supply glut, but prices have since recovered to sit at over $49 per barrel on Tuesday.

The OEOC chief underlined that the company currently offers 10 oil and gas exploration services, including 2D and 3D seismic operations, processing and interpretation of seismic data plus a wide range of technical and engineering services.

Bord said plans have been devised to equip onshore and offshore logistical fleet to facilitate undertaking projects abroad.

Pointing to the overhaul of Iran’s hydrographic survey vessel, he said the vessel can be used in a wide range of operations in offshore exploration projects.