TEHRAN, Nov. 4 (MNA) – National Iranian Oil Company (NIOC) exploration manager here Sunday said the contracts of three of the 17 oil blocks put out to tender will be finalized soon.

Each bidder’s proposal consists of three technical, contractual, and financial envelopes, Hossein Roshandel added, saying all of them have been opened.
“We are on talks to reach an accord on the bidders’ terms and conditions and tie up the three contracts,” the official added, declining to name the bidding companies and blocks.
The proposals should go according to Iran’s rules and regulations, said Roshandel.
He added 23 domestic and foreign companies have purchased the documents of 17 blocks, saying the majority of purchasers are international giants.
Iran is attempting to lure international oil and gas companies to invest despite rising pressure from the U.S. over its nuclear energy program.
Iran has this year been promoting an international exploration tender for 17 onshore and offshore blocks.
The original deadline for receiving offers was June, but the NIOC announced early that month that it was extending the limit by a further month.
Iran’s oil and gas reserves are among the world’s largest, a huge prize for international companies.
A seminar introducing 17 Iranian exploration blocks was held in Vienna, Australia, in early Feb. 2007 and was welcomed enthusiastically by international oil companies.
The 17 oil blocks set aside for simultaneous exploration and development are located in Ilam, Danan, Fassa, Bandar Abbas, Quchan, Kalat, Kavir, Raz, Maraveh Tappeh, Moghan and Naftshahr regions. There are also Alvand, Dayyer, Laleh, Ferdowsi, and Taban blocks, which are located in the Persian Gulf.
The blocks are located in Khorassan Razavi, Northern Khorassan, Semnan, Ardebil, East Azarbaijan, Golestan, Ilam, Kermanshah, Fars, and Ardebil provinces.
Early estimates show that a total of 450 million euros should be invested in the blocks and the figure may increase as the results of exploration operations are made known.