Iran to development Yaran oil field

The announcement was made by the Managing Director of the Oil Engineering and Development Company (PEDEC), Naji Saudoni, during a ceremony held to mark the endorsement of a contract on the development of the second phase of the Mansouri oil field. He forecasted the value of the contract to stand between 800 million to one billion dollars, and added that the financial resources of the project had already been determined. According to the official "early production from Southern Yaran oil field will be launched in a 20 month period even though the contractor will try to start early production in a 12 to 14 month period depending on circumstances". The field's crude reserves are light with 27 degree API.