POGC, NIDC sign North Pars drilling deal

POGC, NIDC sign North Pars drilling deal

Iran’s Pars Oil and Gas Company (POGC) and the National Iranian Drilling Company (NIDC) on Saturday signed a drilling deal on the North Pars (NP) gas field, MNA reported.

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.

Source; www.iranmania.com

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