Azerbaijan, Baku, Dec. 25/ Trend, M. Moezzi /
Iran is close to making a final decision on signing contracts to develop four oil and gas fields, Fars News Agency reports.
A contract for the Lavan oil field will be signed with Saderat Bank's Sepehr Energy Company.
The €6 billion contract to develop the Forooz B gas field is set to be finalized with MAPNA, an Iranian company.
An Iranian consortium will take on the project to drill exploration wells and complete the master development plan (MDP) for the Farzad A joint gas field. The consortium will be headed by the Petropars Company and the contract will be finalized in the coming weeks.
Talks for an Indian consortium, ONGC, develop the Farzad B joint gas field have been ongoing for three and appear to be in their final stages. The Farzad B field is projected to produce 1.1 billion cubic meters (bcm) of gas in its first phase, 1.65 bcm in its second phase and 2.2 bcm in its third phase. ONGC is slated to invest $5 billion in the project, according to the latest reports.