TEHRAN, March 16 (Shana) – International companies are ready for cooperation with the Khazar Exploration and Production Company (KEPCO) in its deepwater projects in the Caspian Sea.

KEPCO acting managing director, Farhang Khatibi, said in a meeting of the company’s board of directors that the opportunity of cooperation with foreign firms should be taken because they may not be repeated.

Planning director of KEPCO, Mehrdad Vahedi, told the meeting that the Iranian firm has projects to expand its onshore and offshore explorations for which it has obtained authorization of the board and signed contracts.

KEPCO introduced four exploration, production, and development projects including development of Sardar Jangal field to Iran Petroleum Contracts conference which was held in Tehran on November 28-29, former Managing Director Ali Osuli told Shana.

Due to the fact that deepwater drilling technology is not available to all companies, he said, “We have to use the services of foreign companies in such projects.”

By SHANA