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MAPNA Group has signed an agreement with National Iranian South Oilfields Company (NISOC) to develop two oil fields in Khuzestan Province.
The document was signed on Monday, August 6, between Mojtaba Gharavi, CEO of MAPNA Group oil division and Bijan Alipour, chief executive officer of NISOC.
MAPNA oil division CEO called the signature of the agreement a new chapter in cooperation between MAPNA Group and Iran’s Ministry of Petroleum.
Gharavi reminded that contracts worth 3.5 billion USD have been signed between the group and the Ministry of Petroleum.
Paranj's gas injection station started operation in April 2018 with a capacity of 45 million cubic feet per day of gas. The oilfield holds 1.6 billion barrels of in-place crude and its current stands at approximately 18,000 bpd.
Parsi, located 130 kilometers northeast of Ahvaz, holds more than 10 billion barrels of crude oil in place and currently produces 58,000 barrels of crude oil per day.