NIDC to drill 7 oil wells in Azar oilfield
Azerbaijan, Baku, Oct.9/ Trend F.Milad/
National Iranian Drilling Company (NIDC) and Oil Industries Engineering Construction Company (EIOC) have signed a contract for drilling 7 oil wells in the Azar oil field, IRIB News reported.
According to the contract NIDC will carry out the project in 35 months.
Based on the Azar oilfield's development plan, 19 oil wells will be drilled in the field by three different companies.
The National Iranian Oil Company said in October 2011 that it abandoned the plan to develop the Azar field jointly with Gazprom Neft, saying the Russian company showed a lack of interest.
In the same month, the Iranian state oil company signed a $1.9 billion deal for Azar with a consortium of Iranian firms to replace Gazprom Neft.
Azar oilfield, which is shared with Iraq, holds an estimated 1.1 billion barrels of crude reserves.