Iran signed a preliminary deal on Wednesday for a consortium of international companies to develop an oilfield, the first such contract since Washington withdrew from a nuclear agreement and said it would reinstate sanctions on Tehran.
National Iranian South Oil Company (NISOC) signed a so-called heads of agreement (HOA) with London-based Pergas, the oil ministry’s news agency SHANA said.
The consortium will aim to produce 655 million barrels of oil from the Keranj field in Khuzestan province, southwest Iran, over the next 10 years, SHANA said.
British Ambassador to Tehran Rob Macaire and Pergas managing director Colin Rowley were present at the signing ceremony in Tehran, it added. Read More
Latest posts by ET Energy World (see all)
- Electricity consumers up; consumption declines: UP minister - March 20, 2019
- Asia’s coal addiction puts chokehold on its air-polluted citiesa - March 20, 2019
- India’s mega renewable energy target to drive growth of wind energy sector: WoodMac - March 20, 2019