NIOC to award Azadegan oil field to a consortium of domestic firms

May 15, 2022 - 16:21

TEHRAN – The managing director of National Iranian Oil Company (NIOC) said his company is going to award the development of Azadegan oil field, including South and North blocks, to a consortium of domestic companies, Shana reported.

“Following the NIOC’s comprehensive programs for the development of joint fields and maximum use of the capabilities of Iranian companies, the second phase of North Azadegan field’s development project and the ongoing project of South Azadegan will be awarded to a consortium comprised of exploration and production companies under a $7.5 billion contract,” Mohsen Khojasteh-Mehr said on Saturday.

Speaking in a press conference on the sidelines of the 26th International Oil, Gas, Refining and Petrochemical Exhibition of Iran (Iran Oil Show 2022), Khojasteh-Mehr said: “The above-mentioned companies will form a single firm to develop the field and all of them will have equal shares under the mother company.”

“So, the final contract is not an exclusive deal and we do not intend to award the field to just one or two companies, but it will be awarded to all of them,” he added.