Publishe Date: 8:06 PM - 6/20/2017 | Print

Iran, Italy ink oil MoU

Economy - National Iranian Oil Company (NIOC) and the Italian petroleum company Eni signed on Tuesday a memorandum of understanding (MoU) for studying the development of Darkhovin oil field and Kish gas field.

The MoU was signed by Deputy Head of NIOC Gholam Reza Manouchehri and Deputy Upstream Head of Eni Antonio Vella.

Eni will conduct the studies on Kish gas field as well as the third phase of Darkhovin oil field.

The development plan of the first phase of Darkhovin oil field aimed at producing 50,000 bpd and injection of 70 million square feet of gas a day, and the second phase development plan to produce 110,000 bpd and injection of 210 million square feet of gas have become operational.

The field 30 km to the north of Khoramshahr and 100 km away from the south western Ahvaz is along Ahvaz-Khorramshahr road in Khuzestan Province.

The field’s capacity can be increased by over 50,000 bpd through the third development phase.

A 2.5 billion-dollar investment is required to develop the third phase of the Darkhovin, according to Petroleum Engineering and Development Company assessment.

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