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PEDEC Responsible for Developing Iran’s Oilfields

Source: www.gulfoilandgas.com 5/3/2019, Location: Asia

The CEO of Petroleum Engineering and Development Company (PEDEC),Touraj Dehghani, in a press conference which was held in sidelines of the 24th int’l oil show on Friday (3May) commenting on PEDEC’s performance during the year to March 2019 said: “in the past two decades the company has been responsible for developing Iran’s oilfields, particularly those of in the West Karoun region”.

Dehghani said during the past 20 years, the company’s main focus has been on developing the West Karoun oilfields. He also added that West Karoun’s power plant will become operational by March 2020.

Describing unilateral US sanctions on Iran as unfair and unprecedented, the company’s CEO said favorable financial resources have been allocated for developing the West Karoun oilfields and remarkable achievements have been made in this field.

“Iran is not lagging behind in extraction from the West Karoun oilfields, southwest Iran, the country jointly shares with Iraq” he said.

As a high potential and newly discovered region, West Karoun sits on over 70 billion barrels of oil reserves, and we are not lagging behind in extraction from these joint oilfields compared to our partner and competitor, Iraq. We have managed to defend the country’s national interests under the present critical circumstances thanks to our colleagues’ efforts.” he added.

Turning to the construction of a power plant in the West Karoon region, he said once the plant becomes operational, the PEDEC will be able to use the electricity it generates for its trade activities, which will be a great achievement.

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