Iranian Offshore Oil Company to Drill 17 Wells in Persian Gulf

Iranian Offshore Oil Company (IOOC) aims to drill 17 wells in Persian Gulf waters to identify new hydrocarbons reserves.

Speaking to Shananews agency, Mansour Ghaibihayat said IOOC had two packages of drilling in the agenda  to appraise the situation of oil and gas fields located in the Persian Gulf. He continued drilling would be carried out not only in existing operational fields but also in those fields their development had not been started yet.

‘Determination the status of shared oil and gas fields is another reason behind drilling program’, the official said.

According to Gharibihayat the company has signed a head of agreements (HOA) with Petro Iran Company on drilling 12 wells while a private company, whose name was not disclosed, will be in charge of drilling another 5 wells.  

Hayat noted that drilling operations would continue for 3 to 4 years.