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Iran, Italy sign oil MoU

Iran, Italy sign oil MoU

Total and CNPC set to sign Iranian gas deal (08 November 2016 11:46)

Date: 19 December 2015 20:57

National Iranian Drilling Company (NIDC) has signed a memorandum of understanding with the subsidiaries of the Italian Company ENI which will be implemented following removal of sanctions, Irna reported.

NIDC Vice-President Mohammad-Reza Takayedi said Saturday on the sidelines of a Home-Made Oil Equipment Exhibition that the company should drill 40 wells in South Azadegan oilfield, of which 25 have already been completed.

The project will be delivered to National Iranian Oil Company in the second half of the next Iranian year (to start on March 21) to start production phase, he said.

He further noted that some 12 wells have so far been drilled in the Joint Southern Yaran oilfield which did not make progress on schedule due to lack of equipment.

As to Azar oilfield, Takayedi said that the field is one of the most complicated and hardest oilfields in terms of geological conditions and depth of well in which only three wells have so far been drilled.

He further stated that due to insufficient knowledge, drilling in Kish gas field has been stopped since a year ago but it was resumed in March 2015 following access to necessary information and equipment.
Asked about NIDC's foreign projects, he responded, 'We have held talks with Oman and Iraq and intend to participate in their oil and gas fields drilling.'

Touching on involvement in Libya's oil projects, the official said that negotiations with the country have come to a halt due to unsuitable political situation.

Third Specialized Exhibition of Home-Made Oil Equipment attended by 300 Iranian constructors opened today in Ahvaz and will continue for three days.

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