Austrian firm to take part in development studies of Iran’s oil field

Austrian firm to take part in development studies of Iran’s oil field

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An Austrian energy firm, will take part in development studies of Iran’s Susangerd oil field as sub-contactor.

Austria’s HOT Engineering signed a Memorandum of Understanding with IDRO Oil, a subsidiary of Iran’s government-owned IDRO (Industrial Development & Renovation Organization), for carrying out the studies on oilfield and submit the study results within 6 months, IDRO said.

Under the deal, the IDRO Oil and Austrian side will prepare a master development plan (MDP) for Susangerd field’s development.

Last May, IDRO signed a memorandum of understanding with the National Iranian Oil Company (NIOC) to carry out studies for development and increasing oil recovery rate of Susangerd, Cheshmeh-Khosh and West Paydar oil fields in partnership with a reputable international company.

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