Iran’s MAPNA inks field study MoU

Iran

TEHRAN, May 10, 2017 – Iranian company MAPNA Group signed an MoU with the National Iranian Oil Company (NIOC) on Tuesday for the study of two fields in the country’s oil-rich south.

MAPNA will conduct feasibility studies on the Ab Teymour and Mansouri oilfields, both among the 52 fields NIOC has earmarked for foreign investment under the country’s new model of upstream contracts.

NIOC’s deputy chief, Gholamreza Manouchehri, signed the deal with MAPNA president Abbas Aliabadi on the sidelines of the Iran Oil Show 2017.

Both fields are located onshore in the Khuzestan province. Ab Teymour is estimated to hold more than 5 billion barrels of oil and is producing 48,000 bopd, while Mansouri holds 3.1 billion barrels and produces 50,000 bopd.

In late January 2017, Lukoil announced it was in talks with NIOC on the development of the two fields. Previously, in August 2016, NIOC had signed a six-month term survey agreement with Pertamina under which the Indonesian company was to perform a preparatory study on the two fields to raise production by 30,000 bopd in each asset.

MAPNA Group is a conglomerate of Iranian companies involved in the development of oil and gas, thermal and renewable power, railway transportation and other industrial projects, as well as the manufacturing of gas and steam turbines.