The Director of Exploration Department of the National Iranian Oil Company (NIOC) announced the start of a new generation of exploration activities in the northeast of the country.

Speaking on Sunday following signature of 4 research deals with universities and a knowledge-based company in Mashad, Seyyed Saleh Hendi said that exploration activities were now regarded as a priority by NIOC as it had been emphasized by Iranian Minister of Petroleum Bijan Zangeneh and given the importance of the issue.

He said: "Although exploration in the east of the country is expensive and with high risk, given the region"s long distance from the country"s energy center, exploration in the northeast is a top priority for the National Iranian Oil Company; I expect that within two years, a drilling rig would be operational in the Kopeh Dagh region."

The official said that the value of the contracts was Rls. 70 billion and $5 billion.