Iran Eyes Further Development of South Pars Oil

Iran Eyes Further Development of South Pars Oil

The reservoir advisor committee at the National Iranian Oil Company (NIOC) has reviewed possible scenarios for enhancing production at Iran’s South Pars oil layer, Offshore Magazine reports.

The committee further reviewed Maersk Oil’s proposed plan of developing the field in three phases, as well as reservoir specifications, according to Iran Daily. Maersk has been operating in Iran for nearly 25 years.

Iran is looked to attract foreign investments and bring new technologies to its petroleum fields after a decade of US-led sanctions on Tehran. Iran has named 34 eligible companies to bid for future projects in the oil and gas sector under new, less restrictive contract models.


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