1 Min Read
BEIRUT, May 10 (Reuters) - Tenders for developing Iran's Azadegan oilfield will take place within a month the managing director of the country's Petroleum Engineering and Development Company (PEDEC), Seyed Noureddin Shahnazizadeh, was reported as saying by Mehr News on Wednesday. The Azadegan field is located in southwest Iran near the border with Iraq. Initial studies indicated that the field has approximately 12 billion barrels of oil but the site is now thought to have up to 37 billion barrels of oil, Shahnazizadeh told the news agency.
Total, Shell France, Inpex, Petronas, PTT, CNPC, Sinopec and Eni have all been invited to bid, Shahnazizadeh said. (Reporting By Babak Dehghanpisheh; Editing by David Goodman)