Iran to resume exploration at Moghan oil field


SHANA- Governor General of Iran’s northwestern province of Ardabil Majid Khodabakhsh said National Iranian Oil Company is in talks with exploration companies to resume work at the Moghan oil field.

The official said the governorate general is in talks with exploration department of National Iranian Oil Company to absorb investment for exploration of the Moghan oil field.

Extraction of oil from Moghan oil field will result in economic boom for the region, he added.

A Ukrainian company invested 5 million dollars in the Moghan oil field but the company abandoned the project after the beginning of sanctions, Khodabakhsh said.

He noted that the exploration department of National Iranian Oil Company has started new rounds of talks with the Ukrainian company to resume work in Moghan oil field.

If the Ukrainian company does not return, NIOC should start negotiation with the domestic companies to do the exploration in Moghan oil field, Khodabakhsh added.

He referred to the past studies in Moghan oil field by other foreign companies including the French corporations and said due to sanctions and other problems, they could not complete the work.

Now, in the post-Joint Comprehensive Plan Of Action era, there is positive condition for investment in the Moghan oil field, Khodabakhsh said.