NIOC grants oil contract to Schlumberger

TEHRAN (NIOC) Iran has signed a basic agreement with Schlumberger over the development of three fields in its oil-rich Khuzestan province. Iran has signed a MOU with Schlumberger – the world’s largest oil field services company – over the development of several southern oil fields.
The MOU was signed between Schlumberger and the National Iranian South Oil Company (NISOC) – a subsidiary of the National Iranian Oil Company (NIOC) – which is mostly in charge of the developments of prospects in Iran’s oil-rich Khuzestan province.
Accordingly, the French company would be required to study the formations of Shadegan, Parsi and Rag-e Sefid oil fields in Khuzestan.
The projects would be carried out within the framework of Iran’s new generation of oil contracts.
Schlumberger would be the second giant energy corporation to win a deal in Iran’s oil industry. In November 2016, Total signed a contract to develop a major gas project in Iran’s South Pars gas field. Total and Schlumberger now appear to have provided France with a strong foothold in Iran’s oil industry given that both companies are headquartered in Paris.

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