Southern Caspian Sea could be opened to foreign drillers

Offshore staff

TEHRAN, IranNational Iranian Oil Co. (NIOC) would welcome the involvement of foreign companies in deepwater drilling in the Iranian sector of the Caspian Sea, according to a report by Iranian news service Shana.

Abdorreza Assadi, deputy head of NIOC for consolidated planning, said Russian and Swedish companies have voiced readiness to drill in the sector.

Iran has fared well with regards to exploration in the Caspian Sea, but it welcomes the cooperation of experienced and well-known companies for accelerating the development of fields in this region,” he said, particularly those with experience of deepwater drilling.

The Sardar-e-Jangal field in the Iranian part of the sea, currently undergoing appraisal drilling, holds an estimated 2 Bbbl of oil in place with a 25% recovery rate.

05/20/2014

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...