Iranian proposal documents due Nov. 19

International oil companies interested in Iranian oil and gas projects must submit prequalification documents by Nov. 19, National Iranian Oil Co. said (OGJ Online, Sept. 1, 2016).

Projects to tendered remain unclear, the company added in an Oct. 17 press statement.

The company is opening projects to international participation under a new contract format replacing the unsuccessful buyback framework. Under the new format, NIOC will form joint ventures and compensate partners with shares of production.

Contract terms will be longer than those of the buyback agreement, which essentially was a service contract.

Earlier this month NIOC signed contracts of the new design with local company Persia Oil & Gas Development Co. for development of Yaran oil field and improved recovery at Maroun and Koupal oil fields.

It said it expects to sign more contracts with Iranian companies.

For international tenders, a final list of prequalification applicants will be published on Dec. 7, NIOC said on its web site.

The press statement said fields to be tendered to international bidders might include Azadegan, Yadavaran, and Yaran.

Earlier this month the company said 10 European and Asian companies had submitted proposals to the Ministry of Petroleum for 15 projects.

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


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

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 ...