The National Iranian Oil Company (NIOC) signed a contract, for the development of Aban and the West Paydar joint oil fields, with a consortium made up of JSC Zarubezhneft of Russia and Dana Energy of Iran on Wednesday at a ceremony in the presence of the Iranian Oil Minister Bijan Namdar Zanganeh.
The first new oil contract of the post-sanctions era was signed on July 02, 2017 between the National Iranian Oil Company (NIOC) and an international consortium led by France's Total Oil Company to develop Phase 11 of South Pars.
The contract with JSC Zarubezhneft is the second largest oil contract in Iran, which came after the signing of a memorandum of understanding with the Russian company on July 13 of the last year to study the Aban and the West Paydar joint oil fields in order to accelerate development plans for joint fields, based on the new model of oil contracts. .
Ali Karder, the Managing Director of the NIOC, Sergey Kudryashov, the Managing Director of Zarubezhneft of Russia, and Mohammad Iravani, the Managing Director of Dana Energy, signed the contract at the ministry of oil's conference center in the presence of the Iranian oil minister.
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