TEHRAN – The National Iranian South Oil Company (NISOC) and the Exploration Directorate of the National Iranian Oil Company (NIOC) have signed a cooperation agreement to enhance collaboration in exploration, development, and production processes.

Speaking at the signing ceremony, Ebrahim Piramoun, head of NISOC, emphasized the company’s role as the country’s primary oil producer, highlighting the vast amount of exploration data it holds. He stressed the need to identify and discover new geological structures, adding that accelerating exploration processes and transitioning to development projects remain a top priority.

"Exploration is an ongoing process; it never stops. Each phase leads to the next, continuously contributing to increased production and field development," he said.

Seyed Mohyeddin Jafari, head of NIOC’s Exploration Directorate, commended NISOC’s efforts to boost production, calling it a key pillar of Iran’s oil industry. He underlined the importance of synergy between the two entities to achieve strategic industry goals.

Jafari outlined the scope of the Exploration Directorate’s operations, stating that apart from the Caspian Sea, exploration efforts cover all onshore and offshore areas, including the Persian Gulf and the Sea of Oman. He noted significant progress in conventional resource exploration, as well as the identification of approximately five billion barrels of unconventional oil, with ongoing studies aimed at assessing their economic viability.

He also highlighted the importance of exploring stratigraphic traps in the Zagros region, where substantial geological knowledge has been acquired but further discoveries remain necessary. Additionally, he noted advancements in seismic surveys, citing the completion of geophysical studies in the Haftkel oil field, which is set to conclude in the coming year.

The newly signed agreement aims to facilitate knowledge-sharing, data exchange, and the integration of technical and operational capabilities between NISOC and the Exploration Directorate. The collaboration seeks to optimize resource utilization and enhance project efficiency.

Key objectives include preventing redundancy, expanding scientific and technical capacities, and expediting upstream oil sector processes, including exploration, appraisal, development, and production.

Under the agreement, both parties committed to joint initiatives such as data-sharing, leveraging scientific and technical expertise, and undertaking research and development projects. The partnership is expected to accelerate field development and maximize the efficient use of existing resources.

The meeting also addressed potential areas of collaboration, including commercializing successful exploratory wells, utilizing drilling rig capacities, conducting joint seismic surveys, exchanging technology, and cooperating on reservoir and geophysical studies.

Furthermore, the two sides agreed to hold training programs, scientific workshops, and joint research projects to enhance technical capabilities and operational efficiency in Iran’s oil sector.

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