Russians to partake in oil-rich areas south Iran

The Memorandum of Understanding (MoU) on study cooperation for development of Shadegan and Rag Sefid oilfields in Khuzestan Province was signed in July 17 by NISOC Managing Director Bijan Alipour and deputy general director of Zarubezhneft company.

The agreement was sealed on the basis of the model proposed by the National Iranian South Oil Company, approved by board of the National Iranian Oil Company, in accordance with which the Russian firm has been committed to offer its proposal for development of the two Iranian field within a maximum of nine months.

Zarubezhneft is among the international companies who have received approval of NIOC and the newly-signed MoU marks the eighth agreement formed within contract model proposed by NISOC.

Shadegan oil field, which comes under jurisdiction of Maroun Oil and Gas Production Company (MOGPC), is situated in southwest of Ahwaz city and comprises two reservoirs called Asmari and Tangestan.

Discovered in 1964, the Rag Sefid oil field is an oil field located in Khuzestan Province, approximately 6 km in nearest distance from the Persian Gulf, southwest Iran. The total proven reserves of the Rag Sefid oil field are around 14,5 billion barrels, and production is centered on 180,000 barrels per day. The field is owned by state-owned National Iranian Oil Company (NIOC) and operated by National Iranian South Oil Company (NISOC).