Iran is close to finalizing development plans for the Foroozan-Esfyandar fields offshore Iran. The Foroozan development plan is in the final stages and is expected to be completed by March. BHP Billiton and Petro Iran will try to triple output from the Foroozan-Esfyandar fields to 150,000 barrels per day.
The contract for the development of the Bangestan field will be awarded later this year. The three frontrunners for the Bangestan project are TotalFinaElf, ENI and Shell.