Iran Signs IPS Contract for Azadegan Oil Field Development

The Azadegan oil field, one of Iran's main economic battles against international companies like Chevron, has reached its implementation stage after years of waiting. The Integrated Production Services (IPS) contract between Oil Exploration Operations Company and Dasht-e Azadegan Arvand Oil and Gas Development Engineering Company marks the beginning of a new chapter in the field of protective production and increasing the recovery factor of the shared reservoir.

The Azadegan oil field, with 33 billion barrels of oil in place, is considered one of Iran's national assets. Abbas Sarkari, CEO of Oil Exploration Operations Company, emphasized that the field is not only a national asset but also a symbol of the resilience and authority of the country's oil industry.

The company has concluded an IPS contract with Dasht-e Azadegan Arvand Company, which includes financing and a clear timetable for the development operations. Sarkari noted that Oil Exploration Operations Company is ready to accelerate the field development process as the executive arm of employers beyond commercial profit.