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The contract for enhance and maintain oil production of Forouzan field was signed with Petropars.

  The contract for enhance and maintain oil production of Forouzan field was signed with Petropars.

In the second phase of the project for enhance and maintain oil production of oil fields, the contract for the Forouzan Oil field project was signed between the Iranian Offshore Oil Company(IOOC) and Petropars Group.

According to a report by the Public Relations and International Affairs Department of Petropars Group this contract was signed today, Monday, August 17, in the presence of the Minister of Oil and CEO of National Iranian Oil Company(NIOC) , It was signed by Mr. Masoudi, Managing Director of  Petropars Group, and Mr Salmanzadeh, CEO of Iranian Offshore Oil Company(IOOC), so that Petropars, as the consortium leader of this company and Mobin Sazeh Gostar Persian Gulf Company ( M.S.G), will increase production to 12,000 barrels per day in this field.

Under the EPC-EPD contract worth € 288.5 million, the consortium's description of the subsurface section includes 12 new wells, 11 workover wells, 3 RE-INTRY wells and the onshore section includes the construction of three offshore pipelines. 27 km long, construction and installation of two new platformsand four-fiber optic cabling.

It is noted that Forouzan  Oil Field is located 100 kilometers South-East of Khark Island at the Persian Gulf region and joint Marjan Oil Field of Saudi Arabia.

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Established in 1998, Petropars Ltd. (PPL) was founded in order to contribute towards the development of Iran’s vast energy resources PPL specializes as a developer of exploration exploitation and production in upstream projects... Read more