IOOC exploration manager Mansour Ghaibihayat said the company currently has plans for two packages of drilling to evaluate the situation of oil and gas fields located in the Persian Gulf.
Ghaibihayat also noted that drilling will be carried out in existing operational fields, as well as in those fields where development is yet to start.
IOOC has signed a head of agreements (HOA) with Petro Iran Company to drill 12 wells, while another private firm will drill remaining five wells.
"Before starting drilling we have gathered a lot of information on hydrocarbon reserves in the Persian Gulf through conducting three dimensional seismic operations and our drilling program is based on those information," Ghaibihayat said.
Drilling operations is likely to continue for three to four years, according to Ghaibihayat.
