3 oil contracts to be finalized within days: NIOC Chief

Ali Kardor referred ceding Iranian oilfields as NIOC’s policies, saying Azadegan field is the first experience.

The Azadegan oilfield is an oilfield in Iran. It is located 80 kilometres west of Ahvaz, near the Iraqi border.

According to new contracts, the winner of the tender will exploit the field for 20 years, he said.

Investors will also be able to participate in these projects using established funds, he added.

Some 10 groups are reviewing and holding talks over new oil contracts, he reiterated.

The National Iranian Oil Company, a government-owned corporation under the direction of the Ministry of Petroleum of Iran, is a national oil and natural gas producer and distributor headquartered in Tehran. It was established in 1948.

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