Lukoil studying development of two Iran oil fields

20 September 2016

Russian company head meets Iran oil officials to discuss cooperation on onshore fields

The state-owned National Iranian Oil Company (NIOC) is in discussions with Russia’s Lukoil over the development of the Ab-Teymour and Mansouri oil fields in Iran.

NIOC managing director Ali Kardor met Lukoil head Vahid Ali Akbarov in Tehran to discuss the potential for bring the two onshore fields into production after signing a deal earlier this year, according to the Iran Petroleum Ministry’s news service Shana.

“Lukoil shall submit the result of its appraisal studies over the fields as soon as possible,” Kardor was quoted as saying.

Ab-Teymour and Mansouri are medium-sized fields in terms of reserves, according to historical data released by the Petroleum Ministry. The 2002 revisions show that Ab-Teymour hold improved recovery reserves of 1.86 billion barrels, while Mansouri holds a total of 2.85 billion barrels in two formations.

International oil companies (IOCs) are still waiting for the final version of the new Iran Petroleum Contract (IPC) – a new model launched with the aim of attracting greater investment in the country’s oil sector.

Kardor said at the end of August that NIOC will invite IOCs to bid on the development of its Azadegan South field on 21 October. If it goes ahead, it will be the first tender under the IPC

A MEED Subscription...

Subscribe or upgrade your current package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications