The CEO of the Iranian Offshore Oil Company stated on Sunday that his country intends to begin developing the offshore Esfandiar oil field in Iran, which is linked to a Saudi oil field.
According to the article, the company’s CEO, Alireza Mehdizadeh, stated yesterday (Saturday) that the first phase of the Esfandiar field development project in Iran will be accomplished within the next three years.
The Esfandiar field is located 95 kilometres southwest of Khark Island, according to the Tasnim news agency, and its oil reserves are estimated to be more than 500 million barrels.
Iran has begun work on the offshore Esfandiar oil field.
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