“After 10 to 15 years of negotiations with the Chinese side, agreements were struck for the development of the Azadegan and Yadavaran fields, and now the Chinese have started their activities in the fields with a value of 20 billion dollars,” Qasemi said during a visit to the Petropars Company headquarters in Tehran.

Over 20 drilling rigs have been set up at the two oil fields, he added.

The Azadegan oil field is located close to the Iraqi border. The field holds around 33.2 billion barrels of in-situ oil deposits, of which 5.2 billion barrels are recoverable.

The Yadavaran oil field is estimated to hold around 12 billion barrels of in-situ crude oil, some 12.5 trillion cubic feet of associated gases, as well as nearly 1.9 billion barrels of condensates.

Twelve contracts have been signed for the development of joint oil and gas fields, and the development of the Azar and Changouleh fields and some others has already begun, Qasemi stated.

6 Comments on "Work starts at 2 Iran’s oil fields to produce 700,000 bpd"

BillT on Mon, 9th Jul 2012 1:10 am 



It is pretty bad when you cannot believe the news of your own country, but you can believe the news of the supposed’ enemy’. I have no doubt that the Chinese are doing just that. They are in Iraq, Saudi Arabia, were in Libya, several African countries, and now Iran. No embargoes, no boycotts, no threats, just money. We spent at least $3 trillion in Iraq. For that, we could have bought the people at $100,000.00 each and not have lost 4,000+ troops.

St. Roy on Mon, 9th Jul 2012 1:23 am 



As Dmitry Orlov has so eloquently stated, America’s military will be a primary contributor to the nation’s collapse -coming soon!

James on Mon, 9th Jul 2012 3:04 am 



Ha, now I wonder what will happen if the U.S. bombs any of China’s stuff, WWIII?

BillT on Mon, 9th Jul 2012 4:05 am 



James, you are on the right track, but only a fool would attack your banker. They will use Israel to do it and then deny that they knew about it, just like NATO in Libya or Egypt or, currently, Syria. But WW3 is not out of the question over the next decade or so as the Empire loses more and more power and influence in the world.

DC on Mon, 9th Jul 2012 9:05 pm 



The US sucessfully forced the 30,000 Chinese working on various energy projects in Libya to return home. A less well publicised aspect of amerikas war of terror on Libya. This is how amerika attacks its friends and foes alike. Declare war on ginned up pretexts, and destroy the old govt which wasnt giving western oil companies a free hand. Replace with one that will, and void the ‘new’ govt voids the contracts with Russia, China, whoever. That is how the US plays the game these days. The US attacked the EU by destroying Iraq, now it seeks to drive China and Russia out of Iran the same way. The smoke and bafflegab about ‘nuclear’ weapons is just that. I really wish tho, that China and Russia and other nations would call the US on this more than they do.

Arthur on Tue, 10th Jul 2012 9:44 pm 



“I really wish tho, that China and Russia and other nations would call the US on this more than they do.”

China and Russia try to avoid the provocations of the US. They do not want war.