12 June 2005
Tehran (MNA) - Thailand's state-controlled PTT Exploration & Production PLC (PTTEP) secured a 25-year license from National Iranian Oil Co. (NIOC) for the exploration of Saveh Oil Block, Iran's Economy Council issued the license for the contract.
"The Thai PTTEP Company won the exploration rights for the Saveh Block after a round of bidding held by the National Iranian Oil Company (NIOC). Ten oil companies had submitted bids to explore the oil block", noted Managing Director of the Exploration Bureau of the NIOC Mahmud Mohaddes. He said, "The contractor has undertaken to drill a 3,500 to 4,000-meter deep exploratory oil well in the block and spend at least a sum of 14.5 billion dollars in the project. However, in case the project called for additional works, the contractor would be able to increase the amount to 39 million dollars."
Referring to the Kuhdasht Oil Block, the NIOC official stated that 19 international companies submitted bids for the exploration and development of the Kuhdasht Block; however, the Chinese CNPT won the bid. He added that Kuhdasht block is located in the west of Iran and covers an area of about 8,240 sq km.
Elsewhere in his comments, he referred to the Anaran Block and noted that a 4,762-meter deep well was drilled in the block, and there were proven signs of oil existing in the area. However, he added that he could not give further information on the issue since they (the NIOC officials) had not yet reached a definite result.
PTTEP is a joint venture with Resourceful Petroleum Ltd. of Malaysia. The Saveh Block, which covers about 3,800 sq. km, is located in the south of Tehran.
Tehran (MNA) - Thailand's state-controlled PTT Exploration & Production PLC (PTTEP) secured a 25-year license from National Iranian Oil Co. (NIOC) for the exploration of Saveh Oil Block, Iran's Economy Council issued the license for the contract.
"The Thai PTTEP Company won the exploration rights for the Saveh Block after a round of bidding held by the National Iranian Oil Company (NIOC). Ten oil companies had submitted bids to explore the oil block", noted Managing Director of the Exploration Bureau of the NIOC Mahmud Mohaddes. He said, "The contractor has undertaken to drill a 3,500 to 4,000-meter deep exploratory oil well in the block and spend at least a sum of 14.5 billion dollars in the project. However, in case the project called for additional works, the contractor would be able to increase the amount to 39 million dollars."
Referring to the Kuhdasht Oil Block, the NIOC official stated that 19 international companies submitted bids for the exploration and development of the Kuhdasht Block; however, the Chinese CNPT won the bid. He added that Kuhdasht block is located in the west of Iran and covers an area of about 8,240 sq km.
Elsewhere in his comments, he referred to the Anaran Block and noted that a 4,762-meter deep well was drilled in the block, and there were proven signs of oil existing in the area. However, he added that he could not give further information on the issue since they (the NIOC officials) had not yet reached a definite result.
PTTEP is a joint venture with Resourceful Petroleum Ltd. of Malaysia. The Saveh Block, which covers about 3,800 sq. km, is located in the south of Tehran.
© Tehran Times 2005
