Oil Minister: China Investing Dlrs20bn In Azadegan, Yadavaran Oil Fields

Tehran, July 9, IRNA – Oil Minister Rostam Qasem said on Sunday that Chinese companies are now investing dlrs 20 billion in the Iranian oil fields of North and South Azadegan as well as Yadavaran to increase current level of their production to 700,000 barrels per day. He made the remarks while inspecting Petropars Company and development projects concerning North and South Azadegan oil fields. Over 20 drilling rigs have been installed in Azadegan and Yadavaran oil fields which are expected to increase the volume of oil production to over 700,000 per day. In recent months some contracts have been signed to develop and exploit new oil wells in 12 new oil fields, he said. Once South Pars fields come on stream one month ahead of schedule, the value of their monthly oil yields will stand at about dlrs three billion, said the minister./end