Iran’s Major Oil Industry Contracts to Be Inked Today: NIOC
TEHRAN (Tasnim) – Some of the main contracts in Iran’s oil industry, worth more than $13 billion, will be signed on Sunday in the presence of First Vice President Mohammad Mokhber, Oil Minister Javad Owji and CEO of the National Iranian Oil Company (NIOC) Mohsen Khojastehmehr.
They will be inked concurrent with the anniversary of the industrialization of the oil industry, aimed at increasing the crude oil production capacity by 350,000 barrels per day (bpd) in cooperation with competent Iranian companies.
One of the contracts is on the development of the Azadegan Joint Oilfield in west Karun, which had remained ‘undecided’ for years. It is the largest joint oilfield in the country, located in the vicinity of Majnoon field in Iraq and 80 km west of Ahvaz, IRNA reported.
The contract for the development of the second phase of the Masjed Soleiman Oilfield will be signed on Sunday.
The Masjed Soleiman Oilfield is the first and oldest field in the Middle East, located in Masjed Soleiman County, Khuzestan province. The development of the first phase of the oilfield was carried out by China National Petroleum Corporation (CNPC).
A contract for the development of the Sumar, Saman and Delavaran oilfields in the western part of the country will also be inked on Sunday within the framework of the new model of Iran’s oil contracts.
