Iran tenders 16 oil blocks

The National Iranian Oil Co. (NIOC) will put on international tender the exploration and development of 16 newly defined oil blocks during a two-day conference (January 28–29) in the Hague, Netherlands, the Iranian Oil Ministry’s information network has reported. Heading the Iranian team at the forum will be Mahdi Mir-Moezzi, the managing director of the state-run NIOC. Also present will be Mahmoud Mohaddess, NIOC’s director of exploration. Mohaddess was quoted as saying some 160 people representing various international oil companies will be taking part in the conference. The NIOC will share with the participating companies its geological data and other findings on the blocks and will inform them of its technical and financial conditions, he added. The report did not specify the NIOC’s financial basis for the contracts. However, Mohaddess had previously said that the company has chosen the buyback scheme as the preferred mode of financing the development cost. The 16 blocks to go on tender are: Moghan I and II, Kouh-Dasht, Khorram-Abad, Kermanshah, Bijar, East/West Makran, Zabol, West Jazmourian, Saravan, Tabas, Garmsar, Saveh, Raaz and Maraveh Tappeh.

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