TEHRAN- Iranian Central Oil Fields Company (ICOFC), a subsidiary of National Iranian Oil Company (NIOC), inked a research-based deal with Amirkabir University of Technology on Tuesday, Shana reported.

The deal, which was signed on the sidelines of Iran’s first innovation event in the oil industry dubbed “Petroleum Take-Off”, is on boosting production of liquefied gas from the gas fields under development by ICOFC during a period of 24 months.

ICOFC also inked another research-based deal with Research Institute of Petroleum Industry on Tuesday.

It was on improving the performance of the O-rings used in the centrifugal pumps through applying nanotechnology. The deal is scheduled to be implemented within 10 months.

As previously announced, Khazar Exploration and Production Company (KEPCO), another subsidiary of NIOC which handles exploration operation in the Caspian Sea region in northern Iran, signed three research-based deals with domestic companies on the sidelines of the same innovation event.

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

Considering the challenges of exploring hydrocarbon resources, NIOC’s Exploration Directorate has identified various research projects and created a roadmap based on the country’s Sixth Five-Year National Development Plan (2016-2021) and in line with its organizational strategies.

Operational exploration activities in the oil and gas industry require structural studies and up-to-date technologies in the field of geology and exploration.

In this regard, so far NIOC’s Exploration Directorate has signed several agreements with Iranian universities and knowledge-based companies for research in various fields of geophysics, geochemistry, unconventional hydrocarbon resources and drilling.

MA/MA