NISOC Contractual Model

  NISOC Contractual Model get approval from the board of directors of National Iranian Oil Company (NIOC) on 2nd of October 2016.

In NISOC contractual model Reimbursements and or payment of all direct and indirect costs and expenses will be made solely through allocation of up to 50 percent of the incremental crude oil/condensate production with respect and in addition to the “Depletion Base Line” or up to 75 percent of incremental natural gas production with respect and in addition to the depletion base line. Reimbursements for other products will be done through allocating a part of the revenues gained in line with the market price of such products.

NISOC Contractual model divided to two (2) main category:

a. Field Based Activities: Including field development/redevelopment, implementation of improved/enhanced oil recovery projects (IOR/EOR) and associated production operations.

b. Job Based Activities: Including all operations relevant to drilling, well optimization and/or surface facilities which lead to increase production rate.

a. Field Based Activities

The National Iranian South Oilfields Company (NISOC) invites credible and competent International oil companies (IOCs) and domestic E&P

companies for cooperation in development of 4 fields including 9 reservoirs in the framework of NISOC contractual model.

The subjected fields are as below:

1)     Rag-e-sefid oilfield (Asmari, Bangestan  and Khami reservoirs)

2)     Karanj oilfield (Asmari, Pabdeh  and Khami reservoirs)

3)     Parsi oilfield (Asmari reservoir)

4)     Shadegan oilfield (Asmari and Bangestan reservoirs)


Minimum requirements for applicant companies:


1)     Efficient technical and operational capabilities for field development including all of the following:

·        Reservoir studies

·        Drilling

·        Well-based activities

·        Surface facilities

·        IOR/EOR

2)     Sufficient financial capability for execution of the project.


Required documents:


1)     Financial documents:


·        Official annual financial report of the company for the past 5 years.

·        Proof of funding.


2)     Technical documents:


·        Company Profile.

b. Job Based Activities

National Iranian South Oil Company (NISOC) intends to sign contract with qualified contractors who intent to full finance the new types of EPC/EPD Contracts with bids and tenders exception procedures:

Work Description:

Work description of packages for this new type of contract can be found in the below PDF file "NISOC EPC-EPD Projects.pdf".


It shall be noted that it is necessary for applicant companies to send an electronic copy of the required documents in the format of contractors info.docx and relevant information to the following Email address:

Field Development Docs

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