Project Profile
Value: Undisclosed
Location: Offshore block in the Persian Gulf
Area: 8,580 sq kms
Recoverable gas and condensates: 18 trillion cubic feet (Tcf) and 700 mbbl
Prospective Resources: 1 billion barrels
The Block covers an area of 8,580 sq kms in shallow waters, and in the most prolific hydrocarbon basin of the world while surrounded by giant fields (North Pars, Kangan, Nar, Assaluyeh, Ferdowsi & Golshan) and supergiant North Dome-South Pars Fields.
The block houses 18 trillion cubic feet (Tcf) and 700 mbbl of recoverable gas and condensates in order. The prospective resources of oil-in-place are estimated to be over 1 billion barrels.
The four-year Dayyer contract under buy-back modified rules which equip the explorer for automatic right of development has another two years to run, with an option of a one-year extension. Minimum work commitment includes purchasing the existing 4000 kilometres of 2D seismic data, reprocessing 2000 kilometres of 2D seismic lines and drilling one exploration well.
Edison took on Dayyer one year after abandoning another block Munir which two of its wells had proved to be dry.
Operators:
National Iranian Oil Company: Operator
Edison SpA: Farmed out July 2012