Signing of a Memorandum of Understanding on Cooperation in Oil-Prone Areas and Exploration

According to Energy Press, citing the National Southern Oilfields Company, Ebrahim Paroman, CEO of the National Southern Oilfields Company, stated in a joint meeting with the Exploration Management of the National Iranian Oil Company on Monday (March 10) that this company, as the main hub of oil production in the country, has a large volume of exploration data and we need to identify and discover new structures in different sectors. He stated: Accelerating the finalization of exploration issues and entering into development discussions are among our priorities. Exploration management can determine the main production strategies, and sharing data between the two groups will pave the way for effective cooperation and sustainable development.
He added: The exploration process never stops, but rather enters a new phase with the end of each stage and can always help us increase production and develop fields.
Identification of 5 billion barrels of oil in unconventional resources
Seyed Mohiuddin Jafari, the exploration director of the National Iranian Oil Company, also appreciated the performance of the southern oil-bearing regions in increasing production and considered the company one of the main pillars of the country’s oil industry and stated: The southern oil-bearing regions have a prominent position in the oil industry and we hope to take joint measures to advance the goals of this industry with further synergy.
Explaining the scope of the exploration activities of the Exploration Management, he stated: Except for the Caspian Sea, exploration in all land and sea areas, including the Persian Gulf and the Sea of ​​Oman, is under our coverage. Very good work has been done in the field of conventional resources, and about 5 billion barrels of oil have been identified in unconventional resources, and additional studies are underway to economize them.
The exploration director of the National Iranian Oil Company also pointed out the importance of exploring stratigraphic traps in the Zagros and added: Considerable knowledge has been gained in the Zagros area, but we still need to discover new resources. Effective measures have also been taken in the field of seismology, and geophysical studies of the Haftkal field have been completed, which we will witness in the new year.