This post is also available in:
简体中文 (Chinese)
Iran signed contracts worth $13 billion with domestic companies to increase oil production. The agreements aim to increase daily production from six major oil fields, which is expected to increase by 350,000 barrels per day. The move has been called Iran’s “largest oil contract of the past decade.”
Iran plans to rely on domestic expertise to boost production from oil fields in its west and southwest, including the Azadegan field on its border with Iraq. Iran has previously signed contracts worth $20 billion with domestic companies to increase production from the South Pars offshore gas field in the Gulf shared with Qatar.
(Source: AFP Image source: freepik)
