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Concluding the first new oil contract by the end of the current solar year \ March

Service : Politic
"Seven oil fields have given over to Russian companies and the first of new contracts will be concluded up to the end of the going year \ the third decade of coming March" said oil minister referring to the details of signing of memorandum of understanding with Gazprom Neft, Rosneft and Royal Dutch Shell.
Wednesday, December 14, 2016 1:48:58 PM
Concluding the first new oil contract by the end of the current solar year \ March

Islamic Consultative Assembly News Agency – "Changooleh oil field (in Ilam province) has not been developed up to the present time but Cheshmeh Khosh oil field (in Ilam province) now is in operation; these both should use state of the art and cutting edge technologies and due to this attitude, we got to work", said Bizhan Namdar Zanganeh referring to signing of memorandum of understanding with Gazprom Neft (large Russian company founded in 1989, which carries on the business of extraction, production, transport, and sale of natural gas), Rosneft (integrated oil company majority owned by the Government of Russia) and Royal Dutch Shell (Anglo-Dutch multinational oil and gas company headquartered in the Netherlands and incorporated in the United Kingdom).

"There are seven fields which are given over to the Russian companies; of course there is not any finality and authentication, validation and confirmation all will be done after reciving suggestions and investigation on them", continued the 64 year old oil minister of Iran regarding to this point that Gazprom Neft should bring technical design and new model for a refund in the form of new contracts in this level.

Iran’s oil officials had previously said that Changuleh could be linked to another nearby field named Azar; Azar, itself, is believed to be connected to Iraq’s Badra oil field.

Azar and Changuleh were discovered in 2005 as a result of explorations conducted by a consortium comprising Russia’s Lukoil and Norway’s Statoil.  Both fields – together with Iraq’s Badra – are believed to hold an in-place reserve of about 3.5 billion barrels. 

Cheshmeh Khosh - a second oil field that Gazprom Neft would study under the MoU it signed in Tehran on Tuesday – was discovered in 1975 but is yet to start production. Its projected production target is 18,000 barrels per day (bpd) and 115 million cubic feet per day (mcf/d) of natural gas.

Namdar Zaganeh has up to the present time been minister for a quarter of a century.

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