Hamid Bovard announced that the fate of three project packages to maintain and enhance production capacity of the fields operated by IOOC was determined, saying that a deal had been signed with Petroiran Company in October this year for Siri Project (which entails Sivand and Esfand areas).

He said the fate of Reshadat and Resalat fields had also been determined.

The official added that talks were under way with Khatam-al Anbiya Construction Headquarters for developing Reshadat Oilfield, adding that the winners of a licensing round for developing Resalat Oilfield would be soon announced.

The National Iranian Oil Company (NIOC) has defined 33 oil production enhancement and maintenance projects of which 29 concern land fields and 4 are focused on offshore fields including Siri, Forouzan, Resalat and Reshadat.

IOOC is the subsidiary of NIOC that develops and operated Iran’s offshore fields.

Bovard further said that the contractor of Forouzan Oilfield, the last of offshore fields to be covered by the production enhancement projects, would be determined in the first half of the next calendar year which begins on March 21.

He said the four projects managed by IOOC would be cost over $800 million and new offshore rigs would be deployed in the fields.