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Contracts for local firms as Tehran pushes for higher output
National Iranian Oil Company (NIOC) has signed a contract with Pasargad Energy Development Company (PEDC) for the development of the Sepehr and Jofeir fields, the first time it has nominated a domestic company as the main developer on an upstream oil project.The Sepehr and Jofeir fields in Khuzestan province, south-west Iran, were discovered in 1976. The deal signed on 18 March by NIOC chief executive Ali Kardor and chief executive PEDC Mehdi Mir Moezi aims to take production to 110,000 b/d, with accumulated output of 512m bbls from the two fields over a 20-year period.
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