TEHRAN, May 30 (Xinhua) -- The international integrated oil and gas OMV Company, based in Austria's Vienna, will start developing Iran's Band-e Karkheh oilfield in the near future, semi-official Fars news agency reported on Tuesday quoting an Iranian energy official as saying.
"The OMV will soon start development activities in Band-e Karkheh oilfield," the executive manager of the project to develop the oilfield, Alireza Zamani, said on Tuesday.
"The operation will be carried out based on a discovery and development contract between the National Iranian Oil Company (NIOC) and the OMV firm," Zamani said.
The main reservoirs in Band-e Karkheh are Ilam and Sarvak formations. The Ilam layer is estimated to contain two billion barrels of oil in-place and Sarvak is estimated to hold 1.9 billion barrels in-place.
