Shell Submits Proposal for 2 Iran Oilfields

EghtesadOnline: Royal Dutch Shell on Tuesday submitted a proposal to the Petroleum Engineering and Development Company for developing Azadegan and Yadavaran oilfields south of Iran.

News ID: ۷۷۸۲۱۲

06 August 2017

Representatives of the Anglo-Dutch major reportedly handed in the development plans in a meeting with Noureddine Shahnazizadeh, chief executive of PEDEC and a team of Iranian oil experts, in a meeting in Tehran on Tuesday, the National Iranian Oil Company's news portal reported on Wednesday.

A memorandum of understanding was signed between NIOC and Shell in December to conduct technical studies on Azadegan, Yadavaran and Kish gas fields. Based on the agreement, Shell was required to complete surveys and come up with a development proposal for the fields in six months.

Azadegan, a giant oil reservoir at the Iran-Iraq border, has been singled out as the first oilfield to be tendered within the framework of Iran Petroleum Contract, the country's new, more attractive contractual model for implementing upstream petroleum projects, according to Financial Tribune.