He made the remarks on Saturday in a local ceremony and added, “Oil and Gas Operation Company is the sole producer of oil and gas in eastern and northern parts of the country.

With the daily production of 63 million cubic meters of natural gas and gas condensates from Gonbadli Gas Field, shared with Turkmenistan, as well as gas supply of the largest underground gas storage tank in eastern part of the country, Oil and Gas Operation Company plays a leading role in this respect, he stressed.

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So far, over 75,000 meters have been drilled in the project and 19 wells have been completed and are being readied for oil production by the Petroleum Engineering and Development Company (PEDEC) which is the operator of the field, he said.

Drilling operations in the project began back in 2016.

South Azadegan is estimated to hold 33 billion barrels of oil in place. It is part of the West Karoun oil block in Khuzestan, which holds 67 billion barrels of oil.

Iran shares oil and gas reservoirs with neighboring countries, including several oil deposits with Iraq that shares a 1,400km border with Iran to the west.

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