The National Iranian South Oil Company (NISOC) received permits to hold tenders for 11 investment packages aimed at developing 28 oil reserves in the country's south, Shana reported Monday.
NISOC CEO Bijan Alipour said on Monday his company, which contributed to over 80 percent of Iran's crude oil output, had defined 29 investment packages to develop the reserves, the Oil Ministry’s news website said.
Alipour said the projects would add 340,000 barrels per day to the company's oil production capacity within a two-year period.
The chairman further said that an investment of roughly $4.6 billion would be needed to materialize the projects, which “would guarantee generation of many jobs in the southwestern province of Khuzestan”.
He added that 124 land projects, drilling operations for 282 new wells, 143 workovers, and 165 well stimulation operations would be carried out in order to develop the reserves.
Moreover, 80 drilling rigs, including 60 development and 20 workover rigs, would be employed for the projects, he said.
By Hale Turkes
Anadolu Agency
energy@aa.com.tr