Data on Persian Gulf exploration blocs positive

Originally at: http://www.iranmania.com/News/ArticleView/Default.asp?NewsCode=34582&NewsKind=Current%20Affairs

LONDON, August 21 (IranMania) – The operations so far carried out in the exploration blocs of the Persian Gulf have shown good prospects, Mahmud Mohaddes, an official in the National Iranian Oil Company (NIOC) said, MNA said.

The NIOC director for exploration affairs added that among the exploration blocs whose contracts were signed in the past years, the activities carried out in the blocs of Iran-Mehr, Foruz, and Towsan are of positive outcomes.

He explained that the Iran-Mehr bloc has progressed by 67% until now, and drilling of one well out of the three mentioned in the contract has been completed. He added that the drilling operations are currently being carried out on the second well.

The contract on this bloc was signed in May 2001, and according to it, the Austrian O.M.V Company has been committed to drill three exploration wells within the coming four years, at the cost of $42.3m, he further maintained.

Also in his remarks, Mohaddes said that the final tests are presently being carried out on the exploration wells of Anaran bloc and have progressed by 56%. He added that the project would be implemented in five years, costing $136m.

He put the physical progress of the bloc of Zavvareh and Kashan at 100% in the first phase and over 55% in the second one.

He went on to say that in the second phase, the contractor (Chinese Sinopack Co.) was allowed to execute three-dimensional seismography up by 183 sq. km for drilling two wells. So far, drilling of one well has been completed and the tests would be launched within the next two weeks, he further said.

Last year, Sinopack declared that it had found economically feasible oil reserves to develop in the Zavvareh and Kashan bloc. However, the NIOC set drilling of more exploration wells and precise estimation of probable resources in the bloc as the conditions to reach a sound conclusion.

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