TEHRAN - Khazar Exploration and Production Company (KEPCO), a subsidiary of National Iranian Oil Company (NIOC) which handles exploration operation in the Caspian Sea region in northern Iran, signed three research-based deals with domestic companies, Shana reported.

As reported, signing these deals, KEPCO aims to conduct comprehensive studies in the Caspian Sea region and expand its database for oil and gas discovery operations.

The signed deals include a contract with Dana Systems Co. for identification of geological hazards and possible hydrocarbon zones using geophysical methods and geological and reservoir data in the Caspian Sea; another one with Pars Geology Research Center for exploring the mechanisms of formation of mudflats and their effects on the creation of hydrocarbon reservoirs using remote sensing technology in South Caspian Basin; and finally one deal was signed with Tavana Energy Company for modeling of sedimentary basin and determination of the delta yield range and reservoir rock expansion in the Southern Caspian region.

Earlier this month, KEPCO Managing Director Ali Osouli said that his company also has on the agenda to cooperate with knowledge-based companies specialized in deep water explorations and also with the neighboring countries for executing exploration projects in the region.

Founded in January 1998, KEPCO is a subsidiary of NIOC which is mainly focused on oil and gas exploration and development operations in the South Caspian Basin in Iran’s territory.

The company is in charge of all the contracts signed by local and international companies regarding the exploration and development of hydrocarbon reserves in the area including the pertinent environmental matters.  

The Caspian Sea is divided into three regions in terms of oil and gas reserves: Northern, Middle, and Southern Caspian. The Southern Caspian, which is in Iran’s territory, is the deepest with oceanic depths of over 1,000 meters (3,300 ft).

EF/MA