Iran launches tenders for Azadegan oil field

Iran launches tenders for Azadegan oil field

May 30, 2017
2 min read
Print this page

The tender for Iran's major oilfield Azadegan has started, the country's oil minister said on Monday, according to a Persian media report.

Iran’s Minister of Petroleum, Bijan Zanganeh said the country has invited international energy companies to submit tender for the development of the field, even as it negotiates with other companies on ‘limited tender’ basis, he was quoted on Islamic Republic News Agency (IRNA).

"Right now the tender for developing the Azadegan field is being carried out," said Bijan Zanganeh.

The Azadegan field, in southwest Iran near the border with Iraq, is considered to be the biggest oilfield in the Islamic Republic with reserves estimated at 37 billion barrels of oil, IRNA reported.

Ministry of Petroleum said that the Azadegan oilfield will be among Iran’s first fields for which international tenders will be held.

China National Petroleum Corporation (CNPC) was expected to complete development of South Azadegan’s first phase, but the company was ousted after failing to implement the project in due time, according to the website.

The ministry has already signed agreements with some giant international energy companies, including France’s Total, Deutch-British Shell, and Malaysia’s Petronas for developing the oil field.