According to the National Iranian Oil Company (NIOC), Farrokh Alikhani, deputy director of NIOC for Production Affairs, said on Wednesday, October 16, that the Petroleum Engineering and Development Company (PEDEC) handed over the project to Arvandan Oil and Gas Company which will be a turning point in the maturity of the two companies.

He said that the process to entrust the company with the project was a very difficult due to the multitude of contractors in the project, adding the hand over took place without any disputes between the two companies and could be used as a sample for further similar processes.

Development of the field is one of the priorities of the NIOC. Located in the West Karoon region, the field’s current production capacity is 120,000 b/d.