TEHRAN – Despite Washington’s opposition to Japan’s involvement in Iran’s oil projects, INPEX of Japan will soon kick off an oil development plan at Azadegan Oilfield in southwest of Iran, the daily paper of Asahi Shimbun reported on Friday.

Furthermore, other European and Chinese companies have expressed their readiness to participate in the giant oilfield’s development plan, anticipating Japan’s withdrawal under mounting U.S. pressure. Nevertheless, the INPEX, with the government of Japan as a major shareholder, has ruled off any retraction and has announced that Iran’s nuclear dispute with IAEA and oil business are two separate issues and the company is committed to the oilfield contract signed with Iran in 2004.

According to the plan, the field is expected to produce 50,000 bpd by 2008, and the capacity would gradually increase by 150,000 and 260,000 in 52 months and eight years respectively thereafter (2004).