The “Buyback Service Contract” for Development of Azar Oil Field was signed between National Iranian Oil Company (NIOC) and a Consortium consisting of Oil Pension Fund Investment Company (OPIC) and Oil Industries Engineering and Construction (OIEC) in March 2012. Subsequently, with NIOC approval, execution of the Contract was assigned to newly established company, Sarvak Azar Engineering and Development (SAED) in July 2012.
The company’s objectives are implementation/execution of project within defined time schedule and budget as per Master Development Plan (MDP) and achieve 65,000 BOPD production.
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