27 December 2021 - 16:55
  • News Code: 450954
Development of Azadegan Field Complete by mid-2023

TEHRAN (Shana) -- The CEO of the National Iranian Oil Company (NIOC) said that the development of Azadegan field would be complete by mid-2023, adding: “With the completion of the development project of this field, crude oil production will reach 320,000 barrels per day from the field.”

Mohsen Khojastehmehr said this morning (Monday, December 27) after the signing ceremony of four memorandums and agreements between the subsidiaries of the National Iranian Oil Company and the Academic Center for Education, Culture and Research (ACECR) said the value of the documents is 275 million dollars and Rls. 160 billion.

The deals were signed in a ceremony held in the presence of Iranian Minister of Petroleum Javad Owji between ACECR and a number of MOP subsidiaries on Monday.

Accordingly, the National Iranian Drilling Company (NIDC) and the Iranian Offshore Oil Company (IOOC) signed deals each concerning their focus of operations with ACECR.

Meanwhile, Petroleum Engineering and Development Company (PEDEC) signed a 4-year contract for the purchase of crude oil processing services using rapid processing equipment for the construction of a factory by the method of construction, ownership and operation with a value of about $71 million, and the Construction Support and Goods Procurement Department of the MOP signed another deal worth €5 m for a period of 2 years.

News Code 450954

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