(MENAFN) The Iranian National Development Fund (NDF) has allocated USD2 billion for the development of West Karoun oilfields in Khuzestan province by mid-March 2015, Iran Daily reported.
The deputy head of National Iranian Oil Company (NIOC) for combined planning stressed on development of joint oilfields, adding that as scheduled, NDF will pay USD6 billion to these oilfields during three years.
"Resources of NIOC, buyback and bank facilities are the main resources for the development of West Karoun oilfields," he said, noting that five contracts have been signed for drilling wells in South Azadegan Oilfield.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.