Preliminary work begins for Iran-Saudi oil cooperation: NIOC
Head of the National Iranian Oil Company Mohsen Khojasteh-Mehr announced that preliminary work for bilateral cooperation between Iran and Saudi Arabia in the oil industry has already begun.
Khojasteh-Mehr made the remarks on the sidelines of a conference in Tehran on Tuesday, according to IRNA.
Referring to the joint oil fields between the two countries, the Iranian official noted that, currently, there is no joint oil field between Iran and Saudi Arabia; the share of each side has not been determined.
Khojastehmehr also said that the necessary measures have been made to increase production and maintain production capacity for all joint fields between Iran and Saudi Arabia.
Regarding the Forouzan shared oil field, Khojasteh-Mehr said companies are actively working there.
Khojasteh-Mehr also said the development plan for the Farzad A gas field has been presented to the board of directors of the National Iranian Oil Company, and the construction of the its jacket will also begin in the near future.
He added that Iran is ready to begin drilling in the shared Arash oil field, adding that enough financial resources have been allocated for the project.
Khojasteh-Mehr called the drilling industry as a main part of the production of oil and gas.