On the second day of the 29th Iran International Oil, Gas, Refining and Petrochemical Exhibition, a tripartite Memorandum of Understanding (MoU) was signed between the National Iranian South Oil Company (NISOC), MAPNA Oil & Gas Development Company (OGDC) — the E&P of MAPNA Group — and Ghadir Electricity and Energy Investment Company.
The MOU outlines the implementation of an Enhanced Oil Recovery (EOR) project in the Paranj oil field through the injection of flue gases produced from power plants. Valued at approximately USD 200 million, the collaboration aims to utilize advanced technologies to maximize oil production efficiency.
The signing ceremony was held at the booth of the National Iranian Oil Company and marks a significant step towards leveraging technical and financial capacities to promote sustainable development in Iran’s oil industry.