TEHRAN - Oil Minister Bijan Namdar Zanganeh announced on Tuesday that the process for holding a tender for the development of Azadegan oilfield has been started, Shana reported.

“The qualified companies have been determined and the tender will be held very soon,” the minister added.

Azadegan oilfield has been the priority for the Iranian oil ministry to go on tender based on the country’s new oil and gas contract model, known as IPC.

Earlier this month, Zanganeh announced that the tender for development of Azadegan oilfield will be held by the end of the current Iranian calendar year (March 20).

Anglo-Dutch Shell, France’s Total, Italy’s Eni, Malaysia’s Petronas, Russia’s Gazprom and Lukoil, Austria’s OMV, Germany’s Wintershall, as well as companies from Spain, Poland, China, Japan, India and some other countries were initially announced by Iran’s Oil Ministry as the companies prequalified for the country's first IPC tender. 

Azadegan is an oilfield Iran shares with Iraq at the western part of Iran’s southwestern region of Karoun.

Iran's first tender based on the country’s new model of oil contract has been already postponed several times.

OPEC's third-biggest oil producer hopes that IPC will draw foreign companies and boost output after years of under-investment. 

EF/MA/MG