Petronas, Shell summit studies to develop Azadegan

SHANA – International oil heavyweights Petronas and Royal Dutch Shell have handed over technical studies over Iran’s biggest oil reserve, Azadegan Oilfield, to the National Iranian Oil Company (NIOC), an official said.

The managing director of Iran’s Petroleum Engineering and Development Company said the companies will present the result of their surveys soon afterwards.

Noureddin Shahnazizadeh said France’s Total and Japan’s Inpex Corp. have also offered their surveys about development of the oilfield.

Ever since implementation of the landmark nuclear deal Tehran struck with the P5+1 group of countries, also known as the Joint Comprehensive Plan of Action (JCPOA), Iran is looking to ramp up its crude output and has pitches dozens of major oil and gas projects to be developed by international energy companies.

With 37 billion barrels of oil, the Azadegan field is Iran’s largest oil reserve and is shared with its neighbor Iraq.

It is located in southern Iran, 80 km west of the Khuzestan provincial city of Ahvaz.