MoU Signed to Explore, Develop Caspian Hydrocarbon Resources

Khazar Exploration and Production Company (KEPCO) and PetroIran Development Company signed a memorandum of understanding on Tuesday to explore and develop hydrocarbon resources in the Caspian Sea.
According to the MoU, the exploration and development of resources will commence soon with the priority for Sardar-e-Jangal field, ISNA reported.
In 2011, Iran announced that it has discovered a substantial oil deposit, called Sardar-e-Jangal field, which reportedly contains about 500 million barrels of recoverable oil and 500 million cubic meters of recoverable natural gas. It is located 188 km north of Roudsar in Gilan Province.