Eni, NIOC Ink Deal on Studying Iran Oil, Gas Fields

EghtesadOnline: Italian energy giant, Eni and National Iranian Oil Company Tuesday signed a Memorandum of Understanding for studying Kish gas field and 3rd phase of Darquain oil field, as part of the country's effort to racket its production after the removal of sanctions.

News ID: ۷۴۲۲۷۱

20 June 2017

"Eni have done a remarkable job in Cairo and Mediterranean region both as far as the quality and the speed of work are concerned and it is worthy of trust to be given the two fields of Kish and Darquain for study", deputy managing director of NIOC in development and engineering affairs, Gholamreza Manouchehri stated.

Making the remarks during the session, he said that Eni would have been given 6 months to submit their proposal containing the development and EOR/IOR boost plan.

NIOC has already signed MoUs with Royal Dutch Shell, Gazprom and Alghadir Investment for studying Kish gas field along with PNOC and Alghadir Investment for the development of Darquain oil field, led to a handful of comprehensive studies free of charge for Iran which can be considered valuable sources of information, Financial Tribune reported.

Arguing that "choosing Kish gas field is a wise choice since the company's expertise absolutely fits the work" Eni's Chief Upstream Officer, Antonio Vella highlighted that except for the sanctions period, the cooperation was expressively outstanding between both companies so far.

Eni was involved in the development of several oil and gas projects in Iran before a series of US-led sanctions barred international oil corporations from investing in the country. The projects that the Italian energy giant was involved in Iran included the development of Phases 4 and 5 of the country’s South Pars oil field as well as the development of Darkhovin, Doroud and Balal oil fields.

Eni is also active in exploration and production sector as well as downstream projects, including refining and marketing of petroleum products. It is one of the world's major oil and gas contractors in engineering, construction and drilling projects both offshore and onshore.