MAPNA Group signed three Memoranda of Understanding (MoUs) on oil rigs and joint investment on the final day of Iran’s major oil exhibition.
The documents were signed on Saturday, May 11, 2024, which marked the final day of the 28th edition of Iran International Oil, Gas, Refining, and Petrochemical Exhibition, also known as Iran Oil Show.
These MoUs are set to enhance the drilling capabilities of both onshore and offshore rigs and expedite the development of the Qale-Nar, Kabud, and Balaroud oil fields.
MAPNA Group President Mohammad Owliya and head of National Iranian Oil Company (NIOC) Mohsen Khojasteh-Mehr inked a memorandum of understanding that encompasses the provision of five onshore rigs, one offshore rig, and associated services.
Another MOU included the establishment of a modular processing unit for the Qale-Nar oil field.
MAPNA Drilling Company, renowned for its proficiency in rig management, will provide drilling services for the project for 10 years.
Furthermore, a collaborative MOU focusing on joint investments in oil and gas fields as well as participation in downstream development projects was signed by Owliya and Abdulali Ali-Asgari, the CEO of Persian Gulf Petrochemical Industries Corporation. Some 250 foreign and 1,500 Iranian firms participated in the four-day exhibition this year.
