The National Iranian Oil Company (NIOC) invites foreign exploration and production companies to submit the required pre-qualification documents for a much-awaited tender for the development of several of its key oil sector projects.
In the statement published on its website, NIOC announced that the proposals should be submitted before 19 November 2016; the successful bidders will be announced on 7 December 2016.
It is still not clear which projects will be put on tender. However, there have previously been reports that several promising targets – particularly some that Iran jointly shares with Iraq – are expected to be put up for the grabs.
They could include South Azadegan, Yadavaran, and Yaran. Officials in Tehran had earlier said that the new projects will be awarded through Iran’s new format of oil sector contracts. Under the new format, the NIOC will set up joint ventures for crude oil and gas production with international companies which will be paid with a share of the output.
The new format also envisages different stages of exploration, development and production that will be offered to contractors as an integrated package, with the emphasis laid on enhanced and improved recovery.
Source : NIOC
