TEHRAN, Iran, November 9. The National Iranian Oil Company (NIOC) has started the development of five oilfields, including North and South Yaran fields, Balal, Sohrab, and the oil layer in South Pars, said Managing Director of NIOC Mohsen Khojastemehr, Trend reports citing IRNA.
He also mentioned that $1 billion has been invested in developing the Sohrab oil field, while a refinery within Phase 4 of South Pars has been backed up by $2.5 billion worth of investment.
"The operation on the development of an oil layer in the South Pars field will start next week," he said, adding that the NIOC has also supported the launch of enhanced oil recovery in Ahvaz to boost scientific work and promote the upstream oil sector.
According to Khojastemehr, the National Iranian Oil Company is cooperating with scientific centers and universities within the framework of a €65-million project, that includes development of oil fields.