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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden) -- Ignore unavailable to you. Want to Upgrade?

To: Greywolf who wrote (2514)	6/14/2001 10:17:36 PM
From: Greywolf	Read Replies (1) \| Respond to of 2742

Iran - re-visits Zagros Iran has invited foreign companies to take part in two tenders for engineering services for a total of 16 small and medium-sized onshore oilfields. The list includes six fields with combined reserves exceeding 2 billion barrels, originally tendered on a buy-back basis. The National Iranian Oil Company (NIOC) has assigned Jersey-registered OIEC International (a subsidiary of the semi-private local Oil Industries Engineering & Construction) as managing contractor for the so-called West and South Zagros project. OIEC has asked interested bidders to introduce themselves by 2 July. An OIEC official said companies that qualify will be able to pick up full tender documents for engineering services at that time. Further tenders for procurement, basic engineering and construction will follow later in the year and in 2002. Of the two tender packages issued this month, the West Zagros package consists of the Sarkan, Male-Kuh, Danan, Kabud, Dehloran, and Paydar and West Paydar fields. Except for Kabud they are all producing wells. The South Zagros fields consist of Shurom, Dudro, Rig, Sarvestan, Saadatabad, Khesht, Bushehr and Kuh-e Khaki. All are described by OIEC as "virgin fields". Of the 16 fields Dehloran, Paydar and West Paydar and Sarvestan and Saadatabad were initially tendered as buy-back projects in July 1998. Also tendered at the time under the name Central Zagros Fields were Shurom, Dudro and Rig. OIEC said it will require winning bidders to prepare a development plan for each field as well as for each area. The development plan will include geological and geophysical studies, engineering of surface facilities and pipelines and project management. The engineering study will provide the basis for preparing engineering, production and construction (EPC) tender documents. The retendering of Dehloran and Sarvestan and Saadatabad means talks over the past two years with OMV of Austria and Norsk Hydro of Norway have failed. OMV sources had recently suggested that NIOC planned to develop Sarvestan and Saadatabad by itself. Norsk Hydro, which is exploring the nearby Anaran block and had been talking over Dehloran, said it was aware of the situation but had no comment. OIEC has not provided information on reserves and production targets for all 16 fields. However, it is known that the six tendered in 1998 have combined reserves of just over 2 billion barrels and a combined production target of more than 50,000 barrels per day. The Central fields of Shurom, Dudro and Rig have proven combined reserves of 274 million barrels. Saadatabad and Sarvestan, which may be developed jointly, have combined reserves of 177 million barrels and a production target of 30,000 bpd. Paydar has proven reserves of 816 million barrels and a production target of 10,000 bpd, while West Paydar has proven reserves of 190 million barrels. Dehloran has proven reserves of 555 million barrels and a production target of 20,000 bpd