According to the National Iranian Oil Company, Abuzar Sharifi stated: “The Memorandum of Understanding for the second phase of Masjed Soleyman oil field development project was signed between the National Iranian Oil Company and Sina Energy Gostar Holding and its technical negotiations began to prepare a Delivery Program and Operation Plan (DPOP).

He added the contract for the project will be in the form of new models of oil contracts.

According to the report, Masjed Soleyman oil field is the first and oldest oil field in the Middle East, located in Masjed Soleyman city, Khuzestan province, southwestern Iran.

China's CNPC carried out the field's first phase development project.