Middle East Economic Survey

VOL. LIV

No 49

5-Dec-2011

IRAN

NIOC Awards Pedec Contract To Develop Yaran Oil Field

The National Iranian Oil Company (NIOC) on 29 November awarded a development contract for the Yaran oil field to its subsidiary company Petroleum Engineering and Development Company (Pedec). Shana said that Yaran lies in the West Karun oil producing region in Khuzestan province. The field was said to be shared with Iraq and estimated to hold 1.1bn barrels of oil in place. A...