TEHRAN- The project for development of Yaran Oilfield was studied by National Iranian Oil Company (NIOC) on Saturday, ILNA reported.

The plan which was submitted previously was investigated in the 62nd meeting of NIOC’s oil and gas reserves management consultants.

Yaran is one of the five oilfields known as West Karoun oilfields which Iran shares with Iraq at the western part of Iran’s southwestern region of Karoun.

Yaran Field, which is divided into two parts namely North Yaran and South Yaran, lies 120 kilometers west of Ahwaz, the capital city of southwestern province of Khuzestan, on the border line with Iraq.

The field is adjacent to Azadegan Field in east and to Iraq’s Majnoon Field in west.

West Karoun region which includes five major fields namely North Azadegan, South Azadegan, North Yaran, South Yaran and Yadavaran prioritized among the country’s top development projects.

Providing the condition for the presence of private sector in development projects is now an agenda for the NIOC.

The budget bill for the next Iranian calendar year 1398, which starts on March 21, 2019, indicates that the budget allocated to the development projects is not expected to see a noticeable rise in the next year, and it is while there are over 80,000 semi-finished development projects in the country; so the government has invited the private sector to contribute to finishing them.

In this due, oil and gas sector as the main source of income for the country welcomes private sector’s presence in its projects, both in exploration and in development.

In development sector, as there are many exploration blocks waiting for implementation of projects, NIOC is seriously following up the plans to lay the ground for the private sector’s contribution.

MA/MA