The Chinese contractor CNPCI was ousted from the 2.5 billion dollar project to develop the field after failing in timely rendering of its undertakings despite of the passage of four years.

Earlier, Marashi said Iran has no plan, for the moment, to delegate development of the oil field to foreign contractors. “Domestic firms are busy with the projects. We will do our best to achieve the three-year target of 320 thousand barrel a day.” 

“There are currently 16 drilling rigs operating on some 100 wells while the project development target includes 185 wells. We are in the talks for drilling the remaining wells,” he said.

In the first phase of the development of the field, 320,000 b/d of crude will be recovered. For that purpose, 385 wells need to be drilled. The initial budget approved for the development of South Azadegan is 500 million dollars plus 500 trillion rials.