IRAN

 

NIOC Announces Plan To Develop Arvand Discovery

The National Iranian Oil Company (NIOC) plans to develop the Arvand oil discovery near Abadan, which has estimated oil in place of 500mn barrels. NIOC managing director Ahmad Qalebani told reporters on 21 August that the company’s Arvandan Oil and Gas Company subsidiary had signed an engineering, procurement and construction (EPC) contract with Iranian Offshore Engineering and Construction Company...