The National Iranian Oil Company (NIOC) said Iran has dropped Russia's Gazprom, one of he world’s largest oil and gas companies, from the Azar oil field development project due to the company's “numerous delays.”
“After several ultimatums and delays by Russia's Gazprom has been dropped from the development plan of the Azar joint oil field," the NIOC said in its statement [Mehr News Agency, 30 August].
The NIOC plans to sign an agreement for the development of Azar field that has a proven 2 billion barrels of oil reserves with a consortium of Iranian companies.
Photo: The Azar oil field, in Iran's western province of Ilam. Mehr Photo