These contracts were signed on Sunday with MAPNA Oil and Gas Development Company and Maham Sharq Industrial Group in the form of construction, ownership and operation (BOO) deals, based on public-private partnership.

The contract for the construction of a crude oil processing unit in Ghalenar, Kabud and Balaroud oil fields with a daily capacity of 40 thousand barrels was signed with MAPNA Oil and Gas Development Company for a 10-year period and an investment of 100 million dollars and the second one in the Mansouri (Asmari) oil field with a daily capacity of processing 75 thousand barrels per day with Maham Sharq Industrial Group for a similar period with an investment of 140 million dollars

The participation of private sector with an investment of 250 million dollars, using the framework of private-public contracts, rising oil processing capacity by 150 thousand barrels per day and creating stable jobs are among the main characteristics of the signed contracts.

Similarly, NIOC signed today a 20- year contract with Oil Industry Engineering and Construction Company (OIEC) for developing Changuleh shared oil field with 4.8 billion barrels of in place oil reserves.

Also, NIOC and MAPNA Oil and Gas Development Company 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.