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NIOC to Invest $25 B in Seismic

Source: www.gulfoilandgas.com 6/17/2013, Location: Asia

Managing director of National Iranian Oil Company (NIOC) says the company plans to absorb as much as 25 billion dollars for investment in development, exploratory and seismic operations during the current Iranian calendar year up to March 2014.

Speaking at the end of seismic operations at Ahwas oil field, NIOC’s managing director, Ahmad Qalebani, said the company managed to attract as much as 24 billion dollars in the above mentioned areas last year.

Commending efforts made for exploration and seismic operations, Qalebani said: the last two years were the best in view of exploration activities that discoveries exceeded the fifth five year development plan’s expectations.

He also thanked Dana Company that managed to complete three dimensional seismic operations at Ahwaz oil field 50 days ahead of schedule.

‘Today most part of upstream projects are implemented by domestic contractors implying great capabilities domestic contractors and oil industry staff enjoy for implementation of projects’, NIOC official said.

3-D seismic operations at Ahwaz oil field as one of important projects of the National Iranian Oil Company (NIOC) was implemented in south of the country with the aim of providing accurate maps of the oil field’s reservoirs.

The operations which started in the second half of Iranian calendar year 1390 (began 20 of March 2011) was implemented in an area covering a 1.500 km with 550 billion rials credit.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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