A senior Iranian official said here on Monday that Japan’s Marubeni Company is keen on making investment in South Azadegan Oil Field.
Talking to IRNA, Managing Director of the Petroleum Engineering and Development Company (PEDEC) Abdolreza Haji Hossein-Nejad said the Japanese company also has held several negotiations with Iranian officials for development of the Islamic Republic biggest oilfield which the country shares with Iraq.
He said the Japanese company is ready to make investment in processing units in Kish gas fields and South Azadegan oil field.
‘It is envisaged that Marubeni Company to make $500 million investment in Iran,’ the Haji Hossein-Nejad added.
Iran discovered Azadegan oil field in 1999 in what was the country’s biggest oil field in decades.
South Azadegan is believed to hold an in-place oil reserve of about 33.2 billion barrels and its recoverable resources estimated at about 5.2 billion barrels.