MAPNA Group has ranked 7th in the latest ranking of oil & gas engineering, procurement and construction (EPC) contractors in the Middle East and North Africa, according to a report released by Dubai-based business magazine MEED.
The top ten list which has sorted the contractors according to the value of their contract during October 1st 2019 to September 30th 2020, was published last week.
Japanese company JGC Corporation tops the list with contracts worth 4.3 billion dollars, followed by Samsung Engineering with 3.7 billion dollars of contract.
MAPNA Group stands 7th in the list, trailing the Egyptian company Enpii.
MAPNA Group earned its place in the top-ten list thanks to an 836 million dollar contract signed in February 2020 to develop Parsi and Paranj fields.
The contract was signed between MAPNA and National Iranian Oil Company (NIOC) in February 2020.
The scope of the contract includes increased oil recovery (IOR), enhanced oil recovery (EOR), and operation of the fields.
The ten-year contract aims to increase the daily production rate of Parsi and Paranj to 85 thousand barrels from the current 52 thousand barrels per day.
MAPNA Group is carrying out a diverse range of subsurface operations include drilling of 29 new wells, repair of 8 existing wells, artificial gas lift, installation of submersible pumps for 45 wells, fracturing and installation of tubing.
Surface operations include optimization and capacity increase for current utilities, construction of gas gathering and compression stations, construction of desalination units, installation of oil & gas pipelines and gas injection.
Parsi oil field is located 125 kilometers north of the city of Ahwaz, center of the oil-rich Khuzestan Province in southwestern Iran.
Oil extraction in the field started in 1966, two years after the discovery of the oil field.
The initial production rate was 7.4 thousand barrels per day. Eighty-nine wells have been drilled across the field so far.
The second field, Paranj, is located between Parsi and Karanj oil fields, 40 kilometers northwest of the city of Behbahan, Khuzestan.
Operations in the field began in 2007. To date, 11 fields have been drilled across the field.
Since mid-2000s, MAPNA GROUP has engaged in a wide range of oil & gas projects including field development, onshore and offshore drilling services, and construction of downstream processing units, auxiliary facilities, utility, and storage tanks.
MAPNA Oil & Gas was acknowledged by the Ministry of Petroleum as a qualified exploration and production (E&P) company in 2016.
MEED has pointed to difficulties raised by the Covid-19 pandemic, including slower pace of workforce mobilization and increasing costs, which have shrunk the total value of contracts more than one-third compared to the same period in the last year, from 25.2 billion USD to $15.9bn.
The full report is available on MEED website.
