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National Iranian Oil Company puts development of 17 new oil blocks on tender

Tehran, Dec 25, IRNA-Development of some 17 new oil blocks will be put on tender for domestic and foreign executives in Vienna on February 1-2, Director for Exploration Affairs of National Iranian Oil Company (NIOC) Mahmoud Mohades said on Monday.

He said that 12 oil blocks have been explored in the land and five blocks in the waters of the Persian Gulf adding that the minimum investment for developing the blocks has been set at 460 million euros.

He said that the 17 oil blocks spread across 129,000 square km in nine provinces.

Mohades said that the tender papers for the package will be sold at 38,000 euros.

"Announcements for the tenders to develop 17 oil blocks will be printed in several Iranian newspapers on Tuesday," he said.

Five oil storage facilities operational in Kharg

Bushehr, Dec 25, IRNA-In a ceremony attended by members of the Majlis Energy Commission, five oil storage facilities came on stream in Kharg Island Oil Products Export Terminal on Monday.

At the ceremony, managing director of state Oil Products Export Terminals Company Moussa Souri said by putting the storage facilities into operation, the storage capacity of the terminal would increase from 11.5 to 15 million barrels of oil.

He added that by constructing the facilities with a storage capacity of 3.5 million barrels of oil, some 77 million dollars of foreign exchange would be saved.

According to him it cost 160 billion rials to implement the project.

He announced that another six storage facilities are scheduled to be made operational by March thus increasing the storage capacity of Kharg Oil Products Export Terminal to 18 million barrels of oil.

Souri added that the entire designing, construction, and engineering procedures were implemented by Iranian experts resulting in a 50-percent foreign exchange saving in the project.

... Payvand News - 12/25/06 ... --

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