The Iranian oil and defense ministries are in talks over a $4bln deal on the development of four oil fields in Southern and Western Iran, a defense ministry official announced.
"We are negotiating for the development of the four oil fields of Zibari in the South, phase 2 of Masjed Soleiman (oil field), Danan near Soumar city and Cheshmeh Khosh in Western Iran," Deputy Head of Khatam ol-Osia Development Base (affiliated to the defense ministry) Seyed Mohammad Alizadeh told FNA.
"The principal agreement has been made for the development of these fields by Khatam ol-Osia Development Base and we are now compiling the relevant contracts," he added.
Earlier this year, Iranian Oil Minister Rostam Qassemi announced that his ministry will sign a number of oil contracts in coming months, mainly with domestic investors.
Speaking on the sidelines of a ceremony held to mark endorsement of three oil agreements in May, Qassemi said participation of domestic investors was one of the main ways to fund projects, and added that during talks with some of domestic investors they were persuaded to invest in oil industry.
Qassemi reiterated his ministrys decision on determining the situation of shared oil and gas fields up to the end of this year, adding the ministry will pursue development of independent oil and gas fields as well.