Mehdi Ahmadkhanbeigi emphasized in an interview with Shana reporter that during the implementation of oil well revival contracts with technology companies, the problems and challenges of the previous model were reviewed and analyzed, and the results of these reviews have been considered in the draft of the new resolution.
Number of Ongoing Contracts and Company Withdrawals
Out of a total of 17 contracts signed with technology companies, about five companies withdrew from continuing collaboration or their contracts were terminated, while 12 contracts continued. Simultaneously with the implementation of these contracts, the problems faced by technology companies in various areas were examined through invitations.
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Financial Structure Reform and Risk Distribution
The head of the Oil Industry Technology and Innovation Park identified the financial model of previous contracts as one of the main challenges and continued: This model did not have enough attractiveness for technology companies and the entry of investors and funds; therefore, the reform of the financial structure was addressed in the new resolution.
Ahmadkhanbeigi pointed out the risk distribution in previous contracts, stating: In the past model, a significant portion of the risk was borne by the technology company, and if the first well did not yield results, another well would be assigned to the company; however, if the second well also failed, the expenses incurred would not be paid to the technology company.
He explained: In the new model, the National Iranian Oil Company accepts part of the risk, and if the first well is not successful, but the second well yields results, the costs incurred for the first well will also be paid to the technology company according to the contract mechanism.
Removal of Well Number Limitations and Access to Information
Ahmadkhanbeigi also announced the removal of the limitation on the number of wells in the new model and said: The previous limitation on the number of wells that could be assigned to technology companies has been lifted so that companies can operate in a greater number of wells according to their capabilities and capacities.
He recalled the ongoing and previous contracts, stating: In the new contracts, the collaboration model with technology companies will proceed based on the reforms made, and for the previous contracts, those with a likelihood of success will continue with revisions and more support.
Ahmadkhanbeigi emphasized: Efforts have been made in the new resolution to address the identified problems in previous contracts, including the financial model, risk distribution, access to information, well number limitations, and collaboration with operating companies, to create a more effective implementation of oil well revival projects.
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