16 June 2024 - 13:38
  • News ID: 643066
Bande Karkheh Oil Field Development Contract Concluded

SHANA (Tehran) - NIOC and MAPNA Oil and Gas Development Company have signed a contract for development of Bande Karkheh oil field with in place oil reserves of 980 million barrels.

The oil field is located in southwest province of Khuzestan, 20 km away from Ahwaz city, the capital of the province and near the Ahwaz, Moshtaq, Abtimor and Sousangerd oil fields.

The term of the contract is 15 years and it is estimated that more than 56 million barrels of oil will be extracted from the oil filed during the period.

The project will be implemented with 435 million dollars of direct investment and its operations include drilling 11 production wells, 1 appraisal well, 1 waste water disposal well, setting up wellhead installations and pipelines as well as processing and conveyance crude oil facilities.

The project is predicted to create 2500 jobs directly or indirectly, making 3.5 billion dollars of oil revenues.

Furthermore, NIOC plans to spend as much as 4.3 million dollars in the area to the benefit of people’s welfare to enforce its social responsibility obligations.

Changuleh Oil Field Development Plan Signed

Similarly, Changuleh oil field development contract was signed today between the National Iranian Oil Company (NIOC) and Oil Industry Engineering and Construction Company (OIEC).

The contract is signed in line with 5-year development plans of the country on maximum withdrawal from oil fields and especially shared oil fields.

The contract has been signed for a 20-year period and is estimated to yield 228 million barrels of oil in total.

The shared oil field with 4.8 billion barrels of in place oil reserves is located in Ilam province, 50 km southeast of Mehran city and 5 km north of Iran-Iraq border.

Drilling 18 production wells, 2 appraisal wells, 2 waste water disposal wells, repairing 2 oil wells, setting up wellhead installations and pipelines, plus setting up crude oil and associated gases conveyance and refining installations are among the operations which are going to be carried out in Changuleh oil field to realize rising oil production goal.

the development plan of Changuleh oil field was approved during the late president, Ibrahim Raisi’s visit to Ilam Province and its implementation will play a significant role in economic prosperity and creating jobs in the province. 

 It is estimated that development plans of Changuleh oil field will create 6500 jobs either directly or indirectly.

News ID 643066


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