Iran Press/Iran news: The Iranian Ministry of Petroleum has signed contracts worth $1 billion with local companies to protect oil fields and increase oil production.
The signing ceremony was held in Iran's Ministry of Petroleum with the participation of Oil Minister Bijan Zangeneh and heads of local oil companies, Iran Press reported.
The National Iranian South Oil Company signed the contracts with five Iranian companies regarding Kabud, Gachsaran, Lali Asmari, Nargisi, Mansuri Asmari, and Ramshir projects.
The Iranian Central Oil Fields Company signed the contracts with three Iranian companies regarding Danan, Saadat Abad, and Naft Shahr projects.
Earlier on March 3, 2018, managing director of the National Iranian Oil Company (NIOC) Ali Kardor, said that three oil contracts will be signed by the end of the current Iranian year. 101/203
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