April 03, 2018 18:13

Iran's NISOC in Talks to Sign $4.3b Deals

Negotiations have been held with 33 international firms to cooperate in joint ventures and several MoUs have been signed

NISOC's production stands at 3.1 million barrels per day.

NISOC has indigenized tools used in the petroleum sector, including various types of drill bits as well as wellhead and downhole equipment

To develop 27 hydrocarbon reservoirs, negotiations are underway between the state-owned National Iranian South Oil Company and multinationals to sign deals worth $4.3 billion in the next two years, the managing director of NISOC said.
"The contracts are targeted at boosting the company's output by 340,000 barrels per day," Bijan Alipour was also quoted as saying by Shana.
He added that preliminary agreements have been reached with a number of firms whose names shall remain anonymous until the contract is finalized.
The official noted that the company's production stands at 3.1 million barrels per day, including gas condensates.

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National Iranian South Oil Company (NISOC)