Marine Link
Wednesday, October 26, 2016

Iran Calls for Oil Majors to Bid for New Projects

October 17, 2016

Photo: National Iranian Oil Company

Photo: National Iranian Oil Company

 Iran has invited global energy giants to a tender for the development of several of its key oil sector projects.  

The National Iranian Oil Company (NIOC) via an announcement has called on foreign exploration and production companies to submit the required pre-qualification documents for the tender as of Monday, 17 October 2016. 
It is stated in the statement published on NIOC’s website that the proposals should be submitted before 19 November 2016 and that 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. 

Maritime Reporter Magazine Cover Oct 2016 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News