A Note on the Anniversary of Oil Discovery in the South Caspian Sea Area

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A Note on the Anniversary of Oil Discovery in the South Caspian Sea Area
The CEO of the Khazar Exploration and Production Company (KEPCO) on the occasion of May 9th, the anniversary of the discovery of oil in the Caspian Sea, according to the remarks of the Supreme Leader regarding paying more attention to the leap of production in the coming year stated that exploration and production have a significant share in the exploitation of oil resources, so that in recent years, knowledge-based and scientific centers in the production of special equipment and technologies, as well as software and hardware related to the development and production of oil, are in fierce competition with each other, and with the advent of new sciences, development has become more and more important in discovering the extraordinary resources.

"Deepwater" is a new and emerging topic that has been featured in the world"s news, books, and oil and gas magazines for nearly 40 years, and experts have come up with different definitions of deep water, but obviously it is a consensus that oil and gas activities in waters with a depth of less than 300 meters are called "Shallow water" activities, between 300 and 1000 meters are called "Deepwater" activities and above 1500 meters are called "Ultra-deep water" activities.

 Despite the fact that the issue of oil production from hydrocarbon resources is relatively new and due to the advancement of knowledge and technologies in this field, according to the statistics manifested in 2015, at least 11% of total hydrocarbon resources production in the world has been produced from these resources.

 Economic fluctuations, the discovery of oil and gas shales, high operating costs and risks, and less human experiences have not prevented the growth and development of the industry, and companies with new technologies in the field of deep water, including American companies, have been diligently searching for and investing in the area, crossing the Golden Triangle of the deep waters of North and Central America and entering the continents of Europe, Africa and Asia.

 Despite possessing huge oil and gas resources on land and shallow waters of the Persian Gulf, the Islamic Republic of Iran began extensive studies in the deep waters of the Caspian Sea after the Islamic Revolution and fortunately succeeded in identifying significant signs of hydrocarbons in the southern areas of the Caspian Sea.

 In this regard, the Ministry of Petroleum of the Islamic Republic of Iran underwent a 10 thousand kilometer of two-dimensional seismic study and conducting more than 2,500 square kilometers of three-dimensional seismic survey in the southern basins of the Caspian Sea based on the comprehensive plan of Caspian Sea studies entitled "SCSG studies" from 1999 to 2000 by a quadripartite consortium consist of Shell- Lasmo- Veba and KEPCO. The volume of oil and gas stocks projected on the basis of seismic interpretation and additional studies of the Caspian Sea is more than 100 billion barrels of oil in 46 reconnaissance structures and it was estimated that these valuable studies have had a significant impact on Iran"s role and power as an important player in the global oil and gas market and the Caspian littoral states.

 Based on these scientific efforts and valuable geological studies of KEPCO as one of the subsidiaries of the National Iranian Oil Company, in January 1997 with the duties of exploration, development and production of hydrocarbon resources in the southern Caspian basin and three coastal provinces of Mazandaran, Golestan and Gilan and the monitoring the implementation of all contracts between the National Iranian Oil Company and international companies for the study and development of oil fields in the Caspian Sea, as well as the monitoring environmental issues related to exploration and development of oil and gas reserves in the Caspian Sea, was established and the construction of a semi-submarine drilling rig for exploration operations in the Caspian Sea set as one of the company"s goals and priorities.      Finally, in 2009, the construction of this huge and unique structure, equipped with complicated technologies with a weight of about 15,000 tons, which was one of the complex challenges for KEPCO, went through many problems and today the semi-floating platform (Iran - Amir Kabir) sparkles as a golden star and a symbol of the reign of the Islamic Republic of Iran and a sign of mastery, knowledge and technology in the hall of honors of the country"s oil industry in the Caspian Sea.

 This unique platform finally succeeded in discovering black gold from the heart of the Caspian Sea by effectively conducting efficacious drilling operations in "Sardar Jangal" field.

 On May 10, 2012. It also broke the taboo of drilling in the deep waters of the Caspian Sea and for the first time in the Middle East, Iran has entered the Club of Oil and Gas Activities in the deep waters of the world.

 Regarding the activities of the KEPCO, we should not forget what ups and downs this company has taken since the beginning of its work to protect the oil resources of the north of the country, which, in addition to building a platform, one can point out, strengthening the infrastructure development in the Caspian Sea, construction of 3 multi-purpose platforms for its support, construction of an operational base, construction of a dock and stilling basin for exploration and drilling operations, and in recent years efforts to gain scientific experience and access to valuable exploratory information for deep waters to strengthen regional cooperation with Caspian littoral states in various areas, including oil partnerships and the signing of several memorandums of cooperation with domestic and international companies accordingly; so more attention should be paid to these valuable measures as the wealth of the oil industry in the Caspian Sea.

 Based on these successes of the oil industry in the north of the country, Iran"s position in the region has become stronger and today the continuation of exploration and development activities in the Caspian Sea can strengthen political, economic position and strengthen Iran"s geopolitical situation in the region and more effective presence in conventions, meetings and decision-makings.

 Among the important measures taken by KEPCO in 2019 were the signing of three research contracts approved by the board of directors of the National Iranian Oil Company with knowledge-based companies, maintenance and updating of the technical facilities of the Iran-Amir Kabir platform and planning for long-term testing of "Sardar Jangal" field wells on behalf of the specialists of KEPCO presented to the management of corporate planning directorate of the National Iranian Oil Company, and if approved, early production from this field will be on the agenda.

         In the end, although the global oil equation has collapsed with the outbreak of the Corona virus, the oil market will return to equilibrium with the start of the operations. Just as American and European companies have been working for years to develop advanced technologies to exploit the world"s deep-water oil resources, our country needs to develop more and more, both economically and geopolitically. Production from the Caspian Sea should be considered as the most valuable source of strategic deep water reserves in the Middle East.

 Based on these valuable experiences, we announce the readiness of this company in all fields and we firmly announce that KEPCO with its capital and reserves from the previous years, while cherishing May 9th, 2012, is also more hopeful and determined than ever in accelerating the process of exploration, development and production.


Dr. Ali Osouli

Chief Executive Officer

Khazar Exploration and Production Company

Jul 19, 2020 09:05
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KEPCO amid many other companies is a subdivision of National Iranian Oil Company (NIOC) founded in January 1998. KEPCO is an authority in exploration, development and production of oil and gas in Iran concerning South Caspian Sea and three littoral provinces of Golestan, Mazanderan and Gilan in Iran. KEPCO supervises all the contracts signed by local and international companies regarding exploration and development of hydrocarbon reserves in the area including the pertinent environmental matters. KEPCO is committed to the development of Caspian Sea oil and gas reserves as well.