Economy of Resistance: Production and Job Creation
2018 21 June Fa

Talks on Azar development are carried out

TEHRAN (PEDEC) _ The CEO and chairman of the board of directors of Petroleum Engineering and Development Company announced the continuation of negotiations with a consortium of an Iranian and a Russian firm to develop Azar oil field.

Sayed Nouraldin Shahnazizadeh stated that the development of Azar oil field will be in two steps as an early plan in the service and the premier and the second production from this field was both 15,000 barrels at the end of 2017. Currently the production rate of Azar field stands at 30’000barrels of oil.

Speaking of the negotiations, he added that it is expected to develop Azar field in the framework of IPC, producing 65,000 barrels of oil and ultimately reaching 100,000 barrels per day.

Shahnazizadeh emphasized that negotiations are in progress and the talks are being carried out with the Iranian company called Saed, or Sarvak Azar, and a Joint, possibly the Russian company of Gaspromneft.

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6 / 2 / 2018