Iran considering forming consortium with Indian, Russian oil companiesStaff Writer | March 7, 2018
The Iranian Industrial Development and Renovation Organization is mulling over forming a consortium with ONGC Videsh of India and Russian energy company Zarubezhneft, IDRO CEO Nasrollah Zarei said.
Oil exploration The Susangerd oil field
IDRO is considering entering a similar agreement with Russian company Zarubezhneft, Zarei, Group's Managing Director, said in the margin of the ceremony held for the signing of the MoU.
He said that IDRO is considering forming a consortium with the Indian and Russian companies.
Zarei added that the National Iranian Oil Company will also participate in developing the Susangerd oil field, while IDRO and an Austrian company will undertake upstream studies.
Initially it has been estimated that the daily production in the field will stand at 30,000 barrels, he said.
Susangerd oil field is located 45 Kms west of the city of Ahvaz in Khuzestan Province. ■