Tehran, Iran, Oct.12
Trend:
The National Iranian Oil Company(NIOC) plans to develop Moghan oilfield in north-west of Ardebil Province by drilling one well by 2020, NIOC Exploration Manager Seyed Saleh Hendi told Trend.
"Moghan oilfield is defined as a block, but the field contractor has left the project's development due to the imposed sanctions," he said.
"We currently plan to run the project ourselves and by the end of next Iranian year (begins March 21, 2020) we will complete the drilling of the well and the Moghan field will possibly have capacity to produce oil," Hendi said.
Moghan oilfield, which is located in Bileh Savar County,has two oil blocks and their reservoirs are expected to have more than 4 billion barrels of oil.