Tag Archives: INPEX Corporation

Iran'.s oil minister said in May that the international tender for the Azadegan oilfield was underway.

Oil production in Azerbaijan stood at 826.000 barrels per day. or 1.6 percent less than in 2015. according to the report.

Japan’s biggest exploration and production company. Inpex. will consider bidding in the tender to develop Iran’s Azadegan oil field.

The project is expected to produce approximately 8.9 million tons of LNG and approximately 1.6 million tons of LPG per year.

South Azadegan is believed to hold an in-place oil reserve of about 33.2 billion barrels.

The final decision sent both main oil contracts plunging Thursday. which in turn dragged energy firms lower.

Around 83.000 barrels of Yadavaran production is a blend of light crude and the rest is heavy crude.

The giant South Azadegan Oilfield near the Iraqi border has been singled out as the first field to be tendered under the new terms.

The company will allocate $1 billion to expand the fields in the first phase and if required.

The sanctions removal in January 2016 revived the incapacitated oil sector.