Iran Aims To Develop Its Largest Oil Field

13 Jun 2017   Iran

One of Iran’s top energy priorities this year would be developing onshore and offshore oil fields that it shares with neighboring countries, the official Islamic Republic News Agency (IRNA) quoted deputy oil minister Ali Kardar as saying on Monday. The official named South Pars phase 11 (oil layer) and the Azadegan oil field as priority developments, and Iran hopes to sign contracts for them by the end of the current Iranian year, through March 20, 2018. “The fields are on priority list and the Ministry of Petroleum emphasizes their development, as they are shared fields,” IRNA quoted Kardar as saying. According to the official news agency, the official also noted that new oil contracts worth US$15 billion would be signed with international companies by the end of the Iranian year. While Iran was under the Western sanctions, its neighbors developed their parts of the shared fields with the help […]

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