NIOC and Dana Energy Signed a Memorandum of Understanding

NIOC and Dana Energy Company signed a Memorandum of Understanding (MoU) this morning, 25th September 2017, for development studies on two oilfields (Sepher & Jufair) located in Khuzestan, Iran. The MoU was signed by NIOC’s Deputy for Development and Engineering, Mr Manouchehri and Dana Energy’s President for Exploration and Production and Board Member, Mr Khoee.

Under this MoU, Dana Energy will conduct studies for developing Sepher and Jufair oilfields. Sepher oil field is located West of Karun with estimated oil reserve of 2 billion barrels and Jufair oil field, which was developed in early 1970’s currently contains four producing wells and is located 50 Km from Ahwaz city.

Mr Manouchehr during the ceremony talked about the importance of using Iranian companies on national projects such as this and added that Dana Energy is an example of a homegrown company that has proven itself in the past decade and is a forerunner as one of the leading private companies in Iran’s oil industry. He also expressed the desire to see Dana Energy playing a role in future upstream projects of this industry.