On Tuesday, February 21, 2017, MAPNA Group and the National Iranian South Oil Company signed a MoU and a non-disclosure agreement for development of three oil fields in southern Iran. The MoU and NDA concern study for development of Karanj , Rag Sefid, and Parsi oilfields located near Ahwaz, center of Khuzestan Province. The MoU and NDA were signed following designation of MAPNA Group as a qualified E&P company for development of Iran’s energy fields by Iran’s Ministry of Petroleum in July 2016.
The MoU signed between MAPNA and NISOC draws on a contract model recently devised by National Iranian South Oil Company and ratified by National Iranian Oil Company (NIOC).
MAPNA will conduct the study for development of these fields within six months.
The National Iranian South Oil Country currently produces 83% of Iran’s total daily oil output and 16% of its gas production. This equals a daily production of three million barrels of oil, 800 MMSCFD of natural gas, and 150 thousand barrels of natural gas condensate.

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