• Sun / 4 February 2018 / 10:54
  • Category: Economy
  • News Code: 96111508397
  • Journalist : 71477

PEDEC negotiates with Iranian-Russian consortium on developing Azar oilfield

میدان نفتی

Tehran (ISNA) - The CEO of Iranian Petroleum Engineering and Development Company (PEDEC) has announced the continuation of negotiations with a consortium comprising an Iranian company and a Russian one to develop the Azar oilfield.

“The first oil production from Azar oilfield in the western Ilam Province reached 15,000 barrels per day in early 2017 and the second oil production reached 15,000 barrels per day in May 2017. Currently we produce 30,000 barrels per day from this oilfield,” the CEO of Iranian Petroleum Engineering and Development Company Nooreddin Shahnazizadeh said in an interview with ISNA.

“The oil production from Azar oilfield will reach 65,000 barrels per day and eventually 100,000 barrels per day within the framework of development of this oilfield following the negotiations with the Iranian-Russian consortium,” he added.

He added that these two companies are Iranian Sarvak Azar Engineering and Development and Russian Gazprom Neft.

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