He also said that Nicaragua’s industry needs Iran’s technical experience and expertise in order to address its energy demand through building power plants.
National Iranian South Oil Co.(NISOC) and Petroiran Development Co.(PEDCO) will soon sign a contract on the exploitation of the first phase of Azadegan oilfield in the presence of Oil Minister Gholam-Hossein Nozari.
The NISOC Managing Director Seifollah Jashnsaz said according to the deal, PEDCO will be in charge of deriving 150 thousand barrels of oil from Azadegan field per day.
He added the contract would be inked concurrent with the commencement of early production of the giant reserve.
Jashnsaz said National Iranian Drilling Co. (NIDC) had already installed Fat’h No. 64 drilling derrick in the region to kick off the drilling operations of the first well of the field.
The official added 12 wells would be drilled during the first stage.
The NISOC Chief said the project was highly technical and massive in terms of engineering operations, adding that about 350 km of flow and transmission pipelines with 10, 14, and 16 inch diameters had been laid in the past six months.
Jashnsaz said six wells had been concurrently repaired and two gas separation units had been also put into operation within the period.