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NIOC Reveal New Exploration Blocks for Investors

Source: www.gulfoilandgas.com 5/7/2018, Location: Asia

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The National Iranian Oil Company (NIOC) on Monday unveiled 14 exploration blocks across Iran, up for domestic and foreign investment in an event held in Tehran’s 23rd International oil show.

The Exploration Directorate of NIOC has offered 14 blocks with almost 80’000 km area which enclose 6 geological basins and they are mixture of mature, high potential and new frontier basins.

NIOC plans to hold a licensing round for the exploration blocks, the most important of which are located in western and southwestern Iran.

Furthermore, three offshore blocks are located in the Persian Gulf and three onshore in northeastern Iran. NIOC plans to name more onshore and offshore exploration blocks in the future.

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