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A contract has been signed for the integrated development of Sepehr and Jofeir fields by the Nation Iranian Oil Company (NIOC) and Pasargad Energy Development Company (PEDC) with an estimated capital expenditure of 2.4 billion dollars. For the first time, NIOC has collaborated with a domestic E&P firm as the main developer of the project. Studies reveal that this integrated development project can greatly expand the scale of profit.
