NIOC, SEDCO Ink Contract for Developing 2nd Phase of Iran’s Oldest Oilfield
TEHRAN (Tasnim) – The National Iranian Oil Company (NIOC) and the Sina Energy Development Company (SEDCO) signed a contract for the development of the second phase of the Masjed Soleyman Oilfield which is regarded as the oldest oilfield discovered in the Middle East.
The signing ceremony for the development of the second phase of the Masjed Soleyman Oilfield, within the framework of the Iran Petroleum Contract (IPC), was held in the presence of Iran’s First Vice President Mohammad Mokhber, Oil Minister Javad Owji, CEO of the NIOC Mohsen Khojastehmehr, and CEO of the SEDCO Mohammad Sadeq Azimifar.
Under the contract, 15 oil wells will be drilled by the Sina Energy Development Company.
Once the development of the second phase of the oilfield is completed, new employment opportunities will be generated for 6,000 people directly, ISNA reported.
The Masjed Soleyman Oilfield is located in the southwestern province of Khuzestan. It is the first oilfield discovered in the Middle East. The China National Petroleum Corporation (CNPC) developed the first phase of the oilfield.
