Complexity of exploration studies and activities has led to the need to utilize modern technologies and huge investments in recent years. In this atmosphere, cooperation among petroleum prone countries with new tech producing companies and financial markets is vital and significant.
According to goals of the country’s 20 year economic-cultural development plan, NIOC has established new policies for development of oil and gas industries (mainly in upstream sector) through cooperation with international companies and foreign investors. In this way, Exploration Directorate has been following the cooperative activities and relevant procedures by its new department of “Exploration Blocks & Foreign Cooperation”.
Presentation of exploration and development blocks to international oil companies started in 1998. During four rounds of international tendering, fifteen service contracts were signed and executed. Department of Exploration Blocks & Foreign Cooperation has been an executive unit and conducted these fifteen projects as the representative of NIOC. Additionally, we have been holding the fifth round of tender process on E&P New Blocks based on IPC contract.