Signature of contracts worth over 2.5 billion dollars by the National Iranian Oil Company

According to Energy Press, the ceremony for signing contracts for the purchase of downstream oil processing services and the drilling rig supply project took place today (Wednesday, December 25) with the presence of Masoud Yazdani (presumed, as the text does not specify the President, and Mohsen Pak-Nezad, the Oil Minister, between the National Iranian Oil Company private and non-governmental companies

Guaranteed Drilling Services

The first contract for the guaranteed purchase of drilling, after multiple negotiations and the of the investment capacity of the, the National Iranian Oil Company agreed to 6 companies to supply 20 land-based drilling with a capacity of 2000 horsepower. It is expected that the signing of these contracts, around $1 billion over 5 years, by drilling 270 new wells, the country’s oil production be maintained and increased, and a result, 450 jobs will be created in underprivileged.

Downstream Oil Services

The second contract for the purchase of downstream oil services to increase crude oil production the Mansouri (Bongestan), Abtimur, Ramsh, Mansourabad, Kerang, and Golkhari oil fields, which was signed in the presence of the President In this project, the National Iranian Company will purchase downstream oil processing under a Build-Own-Operate (BOO) contract worth over $1.7 billion for a period 10 years.