Iran to transfer 7 oil fields for management by the Russian companies

Almaty. December 14. Silkroadnews – Iran plans to transfer seven oil fields to the management by the Russian companies, Trend reports.  

As Iranian Oil Minister Bijan Zanganeh said, Russian companies will facilitate the fields development raising their recovery growth rates.

The recovery of production in the Iranian oil fields makes around 25% on average, though at some giant mining sites, such as “Yadavaran” and “Azadegan” it stands within 6-7% range.

Iran has already signed a memorandum of understanding with the Russian “Lukoil” to explore “Ab-Teymur” and “Mansouri” fields.

B. Zanganeh also added, Iran has signed memorandum with the Russian companies “Zarubezhneft” to develop the “West Paydar” field and “Tatneft” for exploitation of “Aban field.

The fields mentioned have been included in the list of the 49 fields Iran offered to foreigners based on the newly designed model contracts, also-known as the Iran Petroleum Contract or IPC.