TEHRAN, Iran, August 26. The CEO of the National Iranian Oil Company (NIOC) announced the implementation of $900 million in oil projects in Khuzestan Province, Trend reports citing IRNA.
Speaking at the opening ceremony of several oil projects worth $900 million in Khuzestan province, Mohsen Khojste Mehr announced the allocation of $400 million for the second phase of the North Yaran and South Yaran joint oil field development project.
The CEO of NIOC attended the opening ceremony of the Belal joint gas fields. The company has authorized $440 million in credits for the development of the Belal gas field in the Persian Gulf.
He also announced the first developmental well of Sohrab Oilfield is ready for exploitation.
The CEO of Iran National Oil Company signed a flare gas collection deal worth $1.1 billion dollars.