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NISOC Signed MOU with Iranian Company

Source: www.gulfoilandgas.com 2/12/2017, Location: Asia

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A memorandum of understanding between National Iranian South Oilfields Company and Toseh Energy Naft Novin Afagh Kish Company, according to new model of contracts was signed in Ahvaz.

Speaking for his part, Bijan Alipour Managing Director of NISOC said, since past february, when new generation of contracts were introduced and approved in Petroleum Ministry, two contracts regarding enhancing oil recovery and industrial operations has been inked.

More than 60 Iranian and foreign companies have announced readiness for talks with NISOC and up to so far, 33 companies out of the total have entered negotiations, concluded Alipour.

According to this report, the second Memorandum of Understanding (MoU) and Non-Disclosure Agreement (NDA) was signed by the National Iranian South Oil Company (NISOC) and Schlumberger in December 2016.

As the largest oil producer, NISOC output accounts for 80% of total domestic crude production.

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