Iran plans to drill first exploratory well in Caspian Sea

Iran Materials 1 June 2009 11:42 (UTC +04:00)

TEHRAN (MEHR - Trend )

Oil Minister Gholam-Hossein Nozari has announced that Iran plans to drill an exploratory well in the Caspian Sea as the preliminary step for the construction of the Iran-Alborz semisubmersible drilling rig.

Issues related to the Caspian Sea legal regime -- which the five littoral states still have not finalized -- have been taken into consideration and there is no problem in this regard, the oil minister said on the sidelines of a contract signing ceremony in Tehran on Saturday.  

Two Iranian companies are currently conducting feasibility studies for the exploratory well project, he added.