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Global Petro Tech Kish one of our subsidiaries, has won the contract to drill and develop the Azar and Band-Karkheh oilfields.
The Azar field lies in the western Ilam province and holds about 400 million barrels of oil. The field could yield as much as 50,000-65,000 barrels a day (b/d) for 25 years.
The Band-Karkheh field contains about 2 billion barrels and could produce up to 40,000 b/d for 20 years. The Ministry of Oil hopes will begin production by March 2011.
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