May 25, 2018 17:59

OICO Wins N. Azadegan Oilfield Project Tender

Oil Industries’ Commissioning and Operating Company is set to launch oil extraction and production in North Azadegan Oilfield near Iran’s border with Iraq

Currently, 80,000 barrels per day of crude are extracted from North Azadegan Oilfield.

This is the first time all operations, including extraction, production and maintenance of an oilfield, have been outsourced to the private sector

The tender results for developing North Azadegan Oilfield in southwest Iran have been announced and Oil Industries' Commissioning and Operation Company will take on the project, the company's managing director said.
"The field's onshore development has been granted to OICO within a two-year deal, which could be extended to a period of five years," Mehrdad Davoudi was also quoted as saying by Shana on Thursday.
"OICO is preparing the ground to dispatch managing and operating groups to the zone soon," he added.
The deal has been signed within the framework of Iran Petroleum Contract, the country's new model of contracts for oil and gas projects.

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Azadegan Oilfield