Shana -- Managing director of National Iranian South Oil Company (NISOC) Bijan Alipour said his company is likely to put to tender development of its projects in the latter part of the current calendar year based on the newly-devised model of contract it has recently introduced.

The Alipour said the tender is most probably being held for developing Shaygan Oilfield, but added that NISOC's priority is bringing its development projects to their ideal state.

The company has recently singed a memorandum of understanding (MoU) with Pergas Consortium for carrying out studies over Karanj Oilfield development project.

Asked how much the consortium has progressed in studying the fields, the official said the studies have made acceptable progress so far.

He said other companies that have signed MoUs with NISOC are also undertaking their commitments to study fields and some have extended the time limit for handing over the result of their assessments.

Russia's Zarubezhneft Oil Company signed a memorandum of understanding (MoU) with NISOC for studying Iran's Shadegan and Rag Sefid oilfields on Monday.

Hamid Deris, NISOC's director of technical affairs, and Zarubezhneft's director of fields' development and investment, signed the deal in Tehran.

Based on the document, the Russian company has agreed to hand over the result of its studies over development of the two oilfields to NISOC in 9 months.

This is the 8th such document NISOC has signed with a company for carrying out studies over oil and gas fields in southern provinces of Iran.

Rag Sefid is being operated by Aghajari Oil and Gas Production Company and produces oil from its Asmary and Bangestan reservoirs but its Khami reservoir has not been developed.

Shadegan Oilfield is also being operated by Maroon Oil and Gas Production Company.