The National Iranian Oil Company (NIOC) subsidiaries signed 9 contracts with local developers for maintaining and enhancing the production capacity of a number of Iranian oil and gas fields.

The deals were signed on Tuesday in a ceremony that was attended by Iranian Minister of Petroleum Bijan Zangeneh, and are valued at a total of 1 billion dollars.

By signing the deals, the fate of 9 packages of a total of 33 packages was determined. The total number of 33 projects is estimated to cost 6 billion dollars in three years.

National Iranian South Oil Company (NISOC) signed contracts for the projects of Kaboud, Gachsaran Khami, Lali Asmari and Nargesi with the companies of Pars Energy-Gostar Drilling & Exploration (PEDEX), National Iranian Drilling Company (NIDC), Petro Gohar Farasahel Kish (PGFK), and Dana Kish Drilling Company.

NISOC also signed two other contracts for developing Mansouri Asmari and Ramshir project with Oil Industries' Engineering and Construction Company (OIEC.(

Furthermore, the Iranian Central Oil Fields Company signed deals for developing Danan, Saadat Abad and Naft Shahr projects with MAPNA Group, Global Petro Tech kish E&P Company and the NIDC.

About the National Iranian Oil Company (NIOC)

Since 1951, National Iranian Oil Company (NIOC) has been directing and making policies for exploration, drilling, production, research and development, refining, distribution and export of oil, gas, petroleum products.

NIOC, with a vast amount of oil and gas resources, is one of the world’s largest oil companies. At the present time, it is estimated that the company holds 156.53 billion barrels of liquid hydrocarbons and 33.79 trillion cubic meters of natural gas.

With advances in technology and increasing complexities of economic and political relations, NIOC has risen to a privileged status. Therefore, national and regional policies and cooperation with industrial countries in the provision in the supply of energy and stabilizing global oil markets are on the agenda of NIOC. On the verge of the fourth decade of the Islamic Revolution, oil industry workers have every reason to be proud of their achievements before the noble people of Iran, and they pride themselves on having learned the lessons of self-assurance and dignity.

NIOC, in accordance with Article 44 of the Constitution, gives authority to different sectors, while supervising oil industry activities. The company has taken major steps toward establishing business enterprises, funded financial resources for development, helped to update technologies for exploration, drilling and production with reliance on the knowledge of Iranian experts.

NIOC consists of seventeen production companies, eight technical service companies, seven managements, six divisions (administrative units) and five organizational units.