TEHRAN, Feb. 17 (Mehr News Agency) -- The National Iranian Drilling Company (NIDC), in collaboration with foreign firms, has started the drilling of four exploratory wells in the Persian Gulf, an official with the NIDC said here on Saturday.
Hedayatollah Khademi told the Mehr News Agency that the NIDC has started the drilling operations at the Persian Gulf in cooperation with Brazil's Petrobars and Spain's Repsol.
The three companies are carrying out the operations according to an agreement they have previously signed, he added without going into details on value and the date of signing the contract.
Director at the NIDC for engineering continued that the NIDC currently has 50 rigs which are planned to increase within the next three years through adding 18 new rigs.
TEHRAN, Feb. 17 (Mehr News Agency) -- The National Iranian Oil Company (NIOC) has declared the development of Iran's western Mehr Block economically viable, an NIOC official said here on Saturday.
Talking with the Petroenergy Information Network (PIN), Hossein Roshandel added that contractors in charge of exploration at the Mehr Block have struck oil after the drilling of first well in 3,600 meters depth.
"Therefore, the NIOC has announced the block commercial."
Director at the NIOC for exploration explained that negotiations over the development of the block will be started subsequent to choosing a contractor. Then the development of the block will be launched eight months after starting date of talks, he added.
"If no consensus is reached with contractors, the development of the block will be put on international tender," he stated.
Roshandel explained that Austria's OMV, Sipetrol (an international private company), and Spain's Repsol are carrying out exploration at the Mehr Block. They will start the drilling of the second well within a month, he added.
The companies inked a five-year contract on drilling activities at the North Pars gas field, 120 km southeast of Bushehr, southern Iran.
Under contract, the NIDC will use Shahid Modarres rig to drill four wells each year. Each well is expected to produce 100 million cubic feet of natural gas per day.
Discovered in 1967, the North Pars gas field has 58.9 trillion cubic feet of in-situ reserves which can offer 47.2 trillion cubic feet of sour gas.
For the development of the North Pars, Iran has signed a memorandum of understating (MOU) with China National Offshore Oil Corporation (CNOOC) to produce liquefied natural gas (LNG).
The POGC and NIDC are both affiliated to the National Iranian Oil Company (NIOC). The NIDC is responsible for drilling at the country's fields, while the POGC is in charge of projects to develop southern offshore South Pars, North Pars, Golshan, and Ferdows gas fields.
He noted that four of the 18 rigs will be used for workover operations and are to be purchased from China. He put the value of the four Chinese rigs at $60 million.
NIDC is a subsidiary of the National Iranian Oil Company (NIOC) which is in charge of onshore and offshore drilling operations at the country's fields.
Petróleo Brasileiro S.A. (Petrobars) is a government-owned Brazilian oil company headquartered in Rio de Janeiro. Founded in 1953, it is a significant oil producer plus a major distributor of oil products. Petrobras is renowned for its leadership in development of advanced technology from deepwater and ultra-deep water oil products.
Also, Repsol YPF is an integrated Spanish oil and gas company with operations in 29 countries. The bulk of its assets is located in Spain and Argentina.
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