2022 22 September Fa

Integrated Development MoU of Azadegan Joint Oilfield signs with Iran Banks

Tehran (PEDEC)- According to Shana in the presence of Iranian president Ebrahim Raisi, the memorandum of understanding (MoU) for the integrated development of Azadegan joint oilfield signed on Tuesday 6th July by NIOC, Iranian banks and exploration and production companies.

Investment of 7 billion dollars is planned to be made in this joint oilfield aiming to reach an output of 570,000 barrels per day. Currently production capacity of this field is 190,000 barrels per day.

This joint Oilfield with an area of ​​1,500 square kilometers is located 80 kilometers west of Ahvaz city, southwestern Iran, and its in-place oil is estimated to be around 32 billion barrels.

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