Drilling Magazine Media Intelligence, Contextual Wisdom
TEHRAN, Apr. 09 (Shana) — Iran says foreign direct investments (FDI) would be needed for developing oil fields in Caspian Sea.
Managing Director of the National Iranian Oil Company (NIOC) Ali Kardor said foreign investors and developers would engage in development of oil and gas fields in the Caspian Sea in the wake of the eased sanctions on Tehran’s economic sectors in the post-Joint Comprehensive Plan of Action (JCPOA) era.
Launched in 1997, Khazar Oil Company is tasked by NIOC to develop oilfields in the Caspian Sea.