NIOC to Offer Iranian Oil Fields’ Development to Powerful Companies

Manouchehri made the remark in an interview with reporters after the meeting of Minister of Petroleum, Bijan Zanganeh, and head of Russia’s largest oil company LUKoil, Vahid Ali Akbarov.

Manouchehri said oil fields will be offered based on their capacity, capability, technical offers and preparedness of companies to start work.

He noted that LUKoil is a strategic partner for Iran and cooperation with Russian government is on the NIOC agenda.

LUKoil has signed to confidential agreements with the NIOC in connection with two old oilfieds of Ab Teymout and Mansoori and it is now surveying information on the field and the Iranian party will begin to verify the Russian proposal upon receipt.

Manouchehri stressed that the least amount of investment with maximum production long-term is among the NIOC priorities.

He said now various companies are competing to win the bid of contribution to Iranian projects and Iran will choose the best after verifying the offers.

Asked about Iran’s estimate of maximum extraction from Aby Teymour and Mansoori oil fields, Manoucheir said the figure will be gained after receipt of offers and investigation of the NIOC experts and with respect to the time the contracts will be enforced.