The agreements were signed under the supervision of Pezeshkian and Oil Minister Mohsen Paknejad. The projects cover flare gas collection from the Rag Sefid 1 and 2, Bibi Hakimeh 1, Kupal Bangestan, Ahvaz 1, 3 and 4 Asmari, Golkhari 3, Lali, Haft Shahidan, Zilaei, and Karun oil fields.

Under the contracts, 295 million cubic feet of flare gas will be recovered daily, leading to the extinguishing of 32 flares. The projects are expected to be completed within 18 months.

A notable feature of these contracts is the participation of five genuine private-sector investors, working in partnership with foreign firms to accelerate technology transfer to Iran. The companies involved are Hirbod Niroo, Tamkar Gas, Haftan Gas, the Rasem Ara and Nirpars consortium, and KSC.

The collection of gas from the 32 flares is expected to reduce greenhouse gas emissions by 30,000 tons per day while creating sustainable employment opportunities in Khuzestan Province.