The National Iranian Oil Company (NIOC) is to launch a round of 17 oil and gas exploration tenders to overseas oil companies, according to Mehr News Agency.
The tenders coincide with the new round of nuclear talks between Iran and the 5+1, which is supposed to yield a decisive outcome by the end of March and after NIOC held three other international gas exploration tenders, the report added.
Rahim Nematollahi, NIOC deputy director for exploration and overseas agreements, said tender winners would be responsible for any risk associated with explorations failed to hit economically justified oil and gas reservoirs, and all costs and expenses would be paid by the company itself;
“According to regulations, we have not had necessary permissions for tendering blocks in three southern provinces of Khuzestan, Chahar Mahal and Bakhtiari, and Bushehr; the Fifth Development Plan was supposed to address the restriction, since these provinces have preparations necessary for tendering blocks,” he added.
“Exploration in Caspian Sea and three coastal provinces is in the mandate of the NIOC, which is to announce some blocks for tender.”
