Development of the second phase of Azadegan oil field with $ 7.5 billion investment by banks

According to Fars News Agency and quoting the public relations of the Ministry of Oil, Mohsen Khojasteh Mehr, CEO of the National Iranian Oil Company, said about the latest upstream situation of the oil industry and the company’s projects: Was. Due to sanctions and the reduction of Iran’s oil production, in order to maintain this capacity, investments had to be made so that the production wells would not go out of orbit.

He continued: “However, in the previous government, these measures were not taken and about one million barrels of the country’s oil production capacity was lost.” With the inauguration of the 13th government, the restoration of this capacity was on the agenda, and with an investment of $ 500 million, Iran was able to restore oil production capacity to pre-sanctions levels in a short period of time through technical measures.

Khojastehmehr said: Development of the second phase of North Azadegan Square in the west of Karun, completion of the current plan of South Azadegan and development of the second phase of South Azadegan worth $ 7.5 billion by using the power of Iranian exploration and production companies, their technical and executive power and using power Financing of various banks in the country will be implemented, this investment and investment model will enter the stage of signing the memorandum and then signing the contract.

The CEO of the National Iranian Oil Company said: “In this model, the investment share will be allocated to each of the stakeholders.” According to this model, a company with Iranian exploration and production qualifications will be created by several companies and the rest of the assumed shareholders will be under this company and the investment will be made in the form of this model. However, there is a possibility of successful development of these fields.

He continued: “Our policy is not to give large projects exclusively to a specific group, but based on capability, all Iranians can participate in this investment in the form of companies.” This is one of the useful ways to direct the country’s liquidity to a productive economy.

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