NISCO Announces Agenda for South and SW Oilfields : The National Iranian South Oil Company will finalize production, maintenance and enhancement contracts by the end of the current fiscal in March and contractors will start work on 14 major projects during the first half of the next fiscal, the managing director said.

“NISOC, the largest subsidiary of the National Iranian Oil Company, is responsible for the development of 28 oilfields in the southern and southwestern regions, and “hydrocarbon output is expected to increase by 2021,” Ahmad Mohammadi said in Tehran on Thursday.

The roadmap is based on decisions to boost output, finance and rehabilitate old installations in the oilfields including the Ramshir, Kaboud and Lali Asmari fields in Khuzestan Province, Gachsaran Khami field in Kohgiluyeh and Boyer-Ahmad Province, and the Nargesi field in Bushehr Province.

Oilfield development plans will cost an estimated $4.6 billion from which $1.7 billion will go for drilling and the remainder for refineries and construction of petrochemical plants. Plans call for digging of 280 wells and repairing 300.

“Over 200 people will be employed directly for every rig including construction of facilities and laying pipes,” Mohammadi said.

Output of the 28 oilfields currently comprises 63% of the total NISOC production. The state company operates 45 oil and gas deposits. It accounts for almost 80% of Iran’s total crude oil production and more than 15% of gas. Source: FinancialTribune