BAKU, Azerbaijan, April 15. The National Iranian Petroleum Engineering and Development Company (PEDEC) and Russia's ZN Vostok Company have emphasized the importance of accelerating operational activities in their joint projects, Trend reports.
A strategic convergence occurred today in Iran, involving key
stakeholders from both corporate entities.
During the convening, the stakeholders engaged in a discourse on
amplifying bilateral synergies and delved into methodologies for
mitigating prevailing impediments.
Focused emphasis was allocated to the advancement of the Aban and
Paydar-e Gharb hydrocarbon reservoirs, alongside the
Cheshmeh-Khosh, Dalpari, and Paydar-e Sharq formations.
As of February 2024, ZN Vostok Company, a Russian entity, has
allocated in excess of $500 million towards hydrocarbon-centric
initiatives within the Iranian market.
In 2019, ZN Vostok signed a 10-year agreement with Iranian companies Iran Ofoqh and Kayson for the development of the Cheshmeh-Khosh, Dalpari, and Paydar-e Sharq fields, involving a total investment of $3 billion. The development operations on these fields began in mid-2020.
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