Iran will soon begin the development of the Esfandiar oil field. Production from Esfandiar is expected to begin within the next three years. Iran is developing its oil and gas resources alone, which might mean they take longer to develop. Iran will soon begin the development of the Esfandiar oil field, which it shares with Saudi Arabia, which calls it Lulu, Iranian media have reported , citing the managing director of the Iranian Offshore Oil Company. “According to the scheduled program, it is predicted that the executive operation of the first phase of the development project will be carried out within 36 months,” Alireza Mehdizadeh said, adding the first phase will involve the drilling of four wells. The official also said the Iranian Offshore Oil Company would also drill exploratory wells at Esfandiar to determine the next phases of the field’s development. Production from Esfandiar is expected to begin […]