Iran and Oman's Hengam field is slated to produce 16,000 barrels of light crude oil a day this year, the Oil Ministry's Shana news agency reported Monday, citing the managing director of the Iranian Offshore Oil Company (IOOC).
Mahmoud Zirakchianzadeh said that all of the Hengam field's onshore and offshore projects are being carried out by domestic contractors, according to Shana.
The Hengam field, which is located in the Strait of Hormuz between Iran and Oman, is estimated to have 2000 billion cubic feet of natural gas and more than 700 million barrels of crude oil, Shana said.