The integrated operation services contract (IPS) for 55 oil wells in the Azadegan field was signed today (Sunday, September 29) between Abbas Sarkari, CEO of the Oil Exploration Operations Company, and Mahmoud Aminnejad, CEO of the Azadegan Oil and Gas Development Company.
Contract Details
According to this contract, testing and acidizing operations for 55 wells will be conducted with the aim of increasing production and achieving sustainable oil production from the Azadegan field. The duration of this contract is anticipated to be 24 months, and its execution aims to improve well productivity and increase oil production in the field.
Read more: Shenghang Shipping Company Uses Ammonia as Bunker Fuel
Role of Companies in Contract Execution
The Azadegan Oil and Gas Development Company will act as the employer, while the Oil Exploration Operations Company will serve as the executor and contractor of this contract, responsible for carrying out operations related to the designated wells. This collaboration is designed to improve well performance and increase production capacity in the Azadegan field.
Azadegan, one of Iran's major oil fields, has a high production capacity, and the execution of such contracts can significantly contribute to increasing the country's oil production. During the signing ceremony of this contract, the importance of precise operation execution and its role in enhancing productivity and supporting sustainable production in the Azadegan oil field was emphasized.
Consequences of Contract Execution
This contract is part of the developmental plans for the Azadegan field and aims to maximize the utilization of existing well capacities and increase oil production from this field. Increasing oil production from the Azadegan field will not only help improve the country's economic situation but can also assist in meeting domestic needs and exporting oil.
With the implementation of this project, it is expected that oil production from the Azadegan field will significantly increase, which could lead to improved economic conditions and employment in the region. Additionally, this contract is an example of successful collaboration between two major companies in the country's oil and gas industry, which could serve as a model for other similar projects.
Read more: Unprecedented Growth in the VLCC Market with Rising Freight Rates This Week · Technical Management of the Central Oil Company Revives Gas Fields
