NIOC awards PTTEP 3 oil fields’ development study

December 7, 2016 - 9:19

TEHRAN – National Iranian Oil Company (NIOC) and Thailand’s state-run PTT Exploration and Production Company (PTTEP) signed a memorandum of understanding (MOU) for carrying out development studies on three Iranian oilfields.

The MOU was signed by Gholam-Reza Manouchehri, the deputy managing director of NIOC for development and engineering, and Prapat Soponpongpipat, the executive vice president of geosciences and exploration group at PTTEP, in Tehran on Tuesday, Shana reported.
Based on the MOU, the Thai company will be in charge of carrying out studies on three Iranian oilfields namely Changouleh, Balal and Dalpari; PTTEP is to hand the results of the study and its proposals to NIOC in six months.
In the signing ceremony Manouchehri noted that the MOU has been based on the country’s new oil contracts (IPC) and PTTEP will receive a copy of IPC drafts soon.
Soponpongpipat for his part asserted that PTTEP will do its best carrying out the agreed task and expressed wish that the MOU would lead to a contract on at least one of the fields.

EF/MA

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