Oil Industries' Engineering and Construction (OIEC) and Pasargad Energy Development Company, both Iranian entities, submitted the result of their studies respectively on Sepehr and Shadegan oilfields to NIOC and NISOC on Tuesday, December 19, 2017.

Two Russian candidates for developing the projects, namely Tatneft and Zarubezhneft, as well as the Iranian company Kish Novin Naft Energy Development Co., will also submit the result of their deliberations over the project to NIOC and NISOC soon.

In February, Pasargad Energy Development Company and NISOC signed a memorandum of understanding (MoU) for carrying out studies on Karanj, Parsi, and Shadegan oilfields.