Iran, Poland Signed MoU

Iran, Poland Signed MoU

The National Iranian Oil Company (NIOC) and Polish state owned PGNiG, signed a memorandum of understanding (MoU), accordingly PGNiG will conduct primary studies on Iran’s Sumar oil field in the Iranian western province of Kermanshah, reported Tehran Times.

Under the terms of the agreement, the Polish side will provide the results of conducted studies to NIOC within a six-month period. While the final decision for development of the field will be made after obtaining the results of studies. It is noted that NIOC had intended to put the development project on tender, Trade Arabia.

NIOC’s Deputy Managing Director for Development and Engineering Affairs, Gholamreza Manouchehri, signed the MoU, together with PGNiG’s Managing Director, Piotr Wozniak, in Tehran.

Sumar oilfield is estimated to hold 475mb of in-situ crude oil, of which 70mb would be recoverable.

In related news, Egypt Oil&Gas earlier wrote that thehe National Iranian South Oil Company’s (NISOC)Managing Director, Bijan Alipour, had declared that the company would develop four oilfields, Parsi, Karanj, Rag Sefid, and Shadgan, which included nine reserves, in accordance with its new contract model which is expected to extend up to five years per agreement.


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