TEHRAN – Head of National Iranian Oil Company (NIOC) Mohsen Khojasteh-Mehr has said the development project of the strategic Azadegan oil field will be completed by early Iranian calendar year 1402 (begins in March 2023), Shana reported.

Khojasteh-Mehr made the remarks on the sidelines of the signing ceremony of four contracts and cooperation memorandums between the Oil Ministry and the Academic Center for Education, Culture, and Research (ACECR) on Monday.

Azadegan is one of the five major oilfields Iran shares with Iraq at the western part of Iran’s southwestern region of Karoun, known as West Karoun fields.

The field’s reservoir is estimated to contain 32 billion barrels of oil, and its development has so far been pursued in two sections, the Southern Azadegan and the Northern Azadegan.

Back in May, NIOC awarded the development study of the Azadegan oil field to five domestic companies.

According to the agreements signed between the two sides, the studies on the field are conducted in three different sections, namely the southern, central, and northern areas.

The memorandum of understanding (MOU) for research on the northern part of the field was signed with Persia Oil And Gas Industry Development Company, the central part of the field was awarded to Petropars and PetroIran companies, while MOU for the studies on the southern part was signed with Pasargad Energy Development Company and Dana Energy Group.

EF/MA