NISOC Contract Tailor-Made to Oil, Gas Field Development

Talking to Shana, Deris said Minister of Petroleum Bijan Zanganeh had spent a long time on investigation of the framework of the contract.

He said once amendments are made in the NISOC contract and its framework is finalized, four fields of Parsi, Karanj, Rag Sefid and Shadegan, including nine oil reserves, were specified for development based on the contract after announcement and confirmation of the Minister of Petroleum.

He added that the nine reserves include Asmari, Pabdeh and Khami in Karanj field, three reserves in Asmari, Bangestan and Khami in Rag Sefid field, Asmari field in Parsi field and two reserves of Asmari and Bangestan in Shadegan field.

Deris noted that the four fields were selected for the purpose due to the recovery coefficient, enhanced recovery and integration of the reserves.

He added, “We have been trying to put the Khami gas reserve, which has not yet developed, within framework of the NISOC contract.”

The official said the NISOC contract is part of basket of contracts that is operational in nature, while its purpose is development of reserves and using the enhanced recovery methods.