The negotiations resumed in autumn last year after Iran accepted unannounced nuclear inspections by the International Atomic Energy Agency.
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Iran Rewarded
A Japanese consortium has signed an agreement with the Iranian government...
A Japanese consortium has signed an agreement with the Iranian government on the development of Iran's Azadegan oil field, an Iranian source said.
Talks over the field have been on-going for years but stalled after the United States criticized the Japanese consortium's plan to sign a large-scale contract with Iran, amid suspicions that the country had nuclear development programs.
The negotiations resumed in autumn last year after Iran accepted unannounced nuclear inspections by the International Atomic Energy Agency.
Azadegan oil field, Iran's largest, is located in the southwestern part of the country, near the border with Iraq. It has estimated oil reserves of 26 billion barrels. Daily production is estimated at 500,000 to 600,000 barrels.
The negotiations resumed in autumn last year after Iran accepted unannounced nuclear inspections by the International Atomic Energy Agency.
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