Iran Ready to Sign $2 Billion in Development Contracts

Iranian Oil Minister Bijan Zanganeh said the country is ready to sign contracts worth $4 billion for the development of the Azadegan and Bangestan oil fields. Production from these two projects could boost Iran's output by 400,000 barrels per day.

A Japanese consortium led by Inpex is expected to sign a $2 billion development contract for the Azadegan field in July. Total and BP have been short-listed to bid for the Bagestan field.

Production from Bagestan would add 100,000 bpd and production from Azadegan would add 300,000 bpd.

Related Companies

Our Privacy Pledge

Most Popular Articles
Related Articles

Brent Crude Oil : $51.46/BBL 0.61%
Light Crude Oil : $50.52/BBL 0.64%
Natural Gas : $2.83/MMBtu 5.35%
Updated in last 24 hours