Iran this week awarded domestic firm Petropars two contracts worth a combined $1.26bn to expand the key border-field South Azadegan to 320,000 b/d capacity. The award came shortly after another local firm, Persia Oil, won a contract to boost capacity at the smaller nearby North and South Yaran fields (MEES, 17 July).
Under the main $960mn contract with Iranian state firm Petroleum Engineering and Development Company (Pedec), Petropars will expand South Azadegan production capacity from 140,000 b/d to 320,000 b/d, and develop around 200mn cfd of natural gas. The project is slated to take 30 months, implying completion in early 2023. (CONTINUED - 858 WORDS)