INA Oil Company Begins Oil Prospecting in Iran
June 24th, 2008
Zagreb, June 24 (CP) – The INA oil company has begun with its oil prospecting work in the Bloka Moghan-2 Iranian oil field.
An agreement on this was signed earlier with the Iranian National Oil Company (NIOC) after a tender had been put out in February 2007.
The contract covers oil prospecting and drilling for the next five years and in case of actually coming across diposits of hydrocarbon the contract is to be extended to 25 years.
The project is valued at $142 million.
News Info: News in Business, Tagged: INA
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