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Iran to Sign Deals With Local Firms to Study Azadegan Oil Field

Category: Economy

Date: 2021-05-30T18:09:52+0000
Iran to Sign Deals With Local Firms to Study Azadegan Oil Field

Shafaq News/ National Iranian Oil Co. will sign three agreements with local firms on Monday to study the giant Azadegan oil field that it shares with Iraq, according to a statement on NIOC’s website, Bloomberg reported.

If the preliminary agreements lead to finalized contracts, they will increase oil production capacity at the Azadegan field, the statement said without giving figures.

Persia Oil and Gas Industry Development Co. will study the northern section of the field, Petropars and Petroiran Development Co. will study the central section, and Pasargad Energy Development Co. and Dana Energy will both study the southern stretch, according to NIOC.

Azadegan, which is split into northern and southern sections, is the largest oil field that Iran shares with a neighboring country and has an estimated 32 billion barrels of oil in place.

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