IOCs to Develop Iran’s Azadegan Oil Field

IOCs to Develop Iran’s Azadegan Oil Field

International Oil Companies ( IOCs) have presented technical surveys for the development of the Azadegan oil field, according to Pipeline.

Iran is looking to ramp up its crude output with 37bb of oil. Production is currently around 80,000b/d from Azadegan . The field is Iran’s largest, shared with its neighbor Iraq and  part of a string of oil fields in the West Karoun block in the southern oil-rich Khuzestan Province. It is located in southern Iran, 80 km west of the Khuzestan provincial city of Ahvaz. The block includes North Azadegan, Yaran, Yadavaran and Darkhoveyn fields, holding an estimated 67bb of oil in place.

Iran’s Petroleum Engineering and Development Company’s (PEDEC) CEO, Noureddine Shahnazizadeh, said “France’s Total, Japan’s Inpex and Malaysia’s Petronas have submitted their findings along with development proposals for the giant South Azadegan field,”  Financial Tribune  informed.

Shahnazizadeh added that some other companies like Royal Dutch Shell, Italy’s Eni, and China National Petroleum Corporation (CNPC) are also interested in the tender for development of the oil field.

 

Mahinaz El-Baz 317 Posts

Mahinaz El Baz received her MSc degree in Foreign Trade Economics from Helwan University in 2016. She has two years of experience in journalism and four years of experiance in economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

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