Young Journalists Club | Latest news of Iran and world

23 September 2018 - 15:33
News ID: 18769
Iran » Iran
Publish Date: 18:54 - 03 February 2018
TEHRAN, February 3 - Iranian Petroleum Engineering and Development Company CEO Nouroddin Shahnazi-Zadeh said the company is still in talks with a consortium made of an Iranian and a Russian company for development of Azar Oil Field.

‘Tehran in talks with Iranian-Russian consortium to develop oil field’TEHRAN, Young Journalists Club (YJC) - Developing the oil field would come true in two steps, he said.

The field started producing 15.000 oil barrels by March 2017 and 15.000 more in April, he said, adding, Its current output reaches about 30.000 barrels.

The oil field is going to be developed under Iran’s Petroleum Contract (IPC) as talks are underway with Iranian-foreign consortium and its production is going to hit 65.000 barrels or maximum 100.000 barrels per day, the official said.

The talks are underway with an Iranian company named Saed and possibly a Russian joint of Rosneft, he noted.

 

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