Plans to Invest $4b in Azar Oilfield Development Project

The Oil Ministry has invested around $10 billion on the development of Azar joint oilfield in Ilam Province to increase the output from the field, which currently stands at 65,000 barrels per day, the oil minister said.
“The ministry plans to invest about $4 billion in the next five years to develop the field along with other oilfields and energy projects in the western province,” Javad Owji was also quoted as saying on Friday during a visit to Azar Oilfield. 
“When all the development projects related to the oilfields are complete, the crude oil output capacity of the province is expected to reach 330,000 barrels per day,” he said.