Iran to announce tender winner

National Iranian Oil Co., which plans to develop only one of the three delineated fields in the coveted Bangestan oil reservoir, will announce the winner of the tender offer to develop the Ahvaz field soon reports have stated. “Initially, it was intended to have the development of the Bangestan oil reservoir in three fields of Ahvaz, Mansouri and Ab-teymour,” said the head of state Oil Engineering and Development Co. Ali-Akbar Vahidi. “But due to the complexity of the field, presently only the development of Ahvaz field and detailed studies on Ab-teymour and Mansouri are intended,” he said. The full development of the three fields could take about a decade at a cost of around USD 3 billion with an estimated final production of 650,000 bpd. “The technical reports submitted by the participating foreign companies in the tender have been examined and the financial packages have been opened and are being evaluated,” he said adding that the winner will be announced “very soon” in the project. Vahidi said Iran is looking forward to a production of around 260,000 bpd after the completion of the Ahvaz field in the reservoir. He didn’t give the estimated development fee.

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