Iran Oil Company Signs Agreement With French Co.

The executive director of Iran’s national oil company, the Continental Shelf Oil Company, says his company has signed an agreement with a French company worth 32 million euros, or about $40 million.

Mahmoud Zirkjian Alizada, the executive director, says the plan will carry out support and planning operations in Iran’s Dorood Three refinery.

According to Iranian Mehr news agency, Mr. Alizada told reporters covering the Fourth International Exhibition on oil, gas and petrochemicals in Tehran that contracts worth $12 billion had been signed between domestic and foreign companies and the Iranian company.

The executive director said the volume of oil and gas production from oil fields in the Persian Gulf has increased during the past year. He stressed the Iranian Frouzan oil field production increased by 11 percent, as well as the size of Salman oil field production, which witnessed an increase of 6 percent.

“Iran has 13 oil and gas fields shared with Gulf, and there are about 5 billion barrels of crude oil in those fields,” Mr. Alizada said.

David Bedein can be reached at dbedein@israelbehindthenews.com