CNPCI (China National Petroleum Corporation) International, Cyprus Limited and Naftgaran Engineering Services Company of Tehran (NESCO) have jointly been awarded the "Buy-Back" Contract for the Masjed-I-Suleyman Oil Field. CNPCI will be the Operator and 75% owner of the project, Naftgaran Engineering Services Company with 25% share of the project. The project is defined as re-development of the Asmari reservoir with the objective of the establishment of incremental production of 25,000 barrels of marketable oil per day. Additional objectives include the transfer of technology to Iranian Nationals and the introduction of modern technologies in the development and production of the reservoir.
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