(MENAFN) Reports declared that Iran finally launched the executive operation of a project aimed at preserving and improving oil output capacity of Sa'adat Abad oil field.
Sa'adat's development project, valued at around USD53.5 million, will inject 3,000 bpd to the oil production capacity, affirmed the Central Iranian Oil Fields Company (CIOFC).
Managing Director of CIOFC Ramin Hatami announced: "under Engineering, Procurement and Construction (EPC) and Engineering, Procurement and Drilling (EPD) frameworks, the project has been awarded to domestic companies."
Hatami confirmed that the project is consisting of the drilling of two wells, an appraisal and a development well.
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