BAKU, Azerbaijan, Feb. 10
By Elnur Baghishov –Trend:
Iran will earn $6 billion as a result of oil extracted from Parsi and Paranj oil fields in the southwestern Iranian Khuzestan province, Iranian Oil Minister Bijan Zanganeh said at an event held within signing of an agreement between National Iranian South Oil Company (NISOC) and Mapna Group for developing and increasing the production of these two fields, Trend reports referring to the Mehr news agency.
In total, $870 million was spent for this project.
This agreement is the 5th Iran Petroleum Contract (IPC) in Iran. Earlier, four agreements, including the 11th phase of the South Pars gas field, Aban and Paydar, Sepehr and Jufeyr, Dalpari and Paydar Western fields were signed.
The agreement on increasing production and development of Parsi and Paranj oil fields in Khuzestan province in southwestern Iran has been signed by Ahmad Mohammadi, Executive Director of the National Iranian Oil Company (NIOC) under the National Iranian Oil Company, and Abbas Aliabadi, Executive Director of Mapna Group.
According to the agreement, during the 10-year period of operation, 85,000 barrels of oil per day and approximately 121 million barrels a day will be produced.