Tag: Discovered reservoir

Definitions from the Cabinet of Ministers Resolution on Upstream Petroleum Contracts Framework: 🔹Reservoir: Each of the anticlines, stratigraphic structures, or any type of structural trap containing hydrocarbons—or a combination thereof—with independent rock, fluid, and pressure characteristics. 🔹Discovered Field (Green Field): An oil or gas field discovered by the National Iranian Oil Company (NIOC) or by…