National Iranian Oil Co. signed three preliminary agreements with local firms on Monday May 31, 2021 to study the giant Azadegan oil field. Iran is increasing reliance on local firms to develop its oil sector.
Azadegan, which is split into northern and southern sections, is the largest oil field that Iran shares with a neighboring country and has an estimated 32 billion barrels of oil in place.
Persia Oil and Gas Industry Development Co. will study the northern section of the field, Petropars and Petroiran Development Co. will study the central section, and Pasargad Energy Development Co. and Dana Energy will both study the southern stretch.
The field can currently pump around 215,000 barrels a day. This deal may boost Azadegan’s production capacity.