In the wake of the normalization of ties between Iran and Saudi Arabia, the two countries are taking the initial measures for oil cooperation, according to an Iranian deputy oil minister.
Mohsen Khojastehmehr, also the CEO of the National Iranian Oil Company (NIOC), told reporters on Tuesday that there are no oilfields shared by Iran and Saudi Arabia which have been left undetermined.
Forouzan oilfield shared by the two countries is being developed by two contractors, namely Petro Pars Company and Iranian Offshore Engineering and Construction Company, the official said, adding that good news about the developments plans of the facility will be announced soon.
He said that a contract has been signed with Petro Pars Company for constructing the jacket of Farzad B field so that the construction of the jacket is now underway in the company.
The official added that Iran is fully prepared to begin the drilling project at Arash oil field also shared with Saudi Arabia.
The construction of the jacket of Farzad A field will also begin in the near future, Khajastehmehr said.