BAKU, Azerbaijan, November 5. The development of the Changule oil field in the Mehran district of Iran's Ilam Province will begin soon, the local MP Faridun Hemmati told reporters, Trend reports.
He claims that Iran's Oil Minister Mohsen Paknejad has announced his decision to implement the contract for the field's development.
Hemmati announced plans to drill a minimum of 19 wells for the Changule oil field development, allocating an investment of $1.3 billion for this purpose.
The MP stated that the field's development should yield 60,000 barrels of crude oil daily.
He added that the province will invest four percent of the revenue from the export of this crude oil in social projects and development.
To note, the Changule oil field is located about 5 kilometers from the Iran-Iraq border in Ilam Province, containing about 4.8 billion barrels of crude oil. The National Iranian Oil Company and the Oil Industry Engineering and Construction Company (OIEC) signed a contract on June 16, 2024, for the development of the Changule oil field. The 20-year contract anticipates the production of 228 million barrels of crude oil from the field.
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