Iran to renew exploration activities in Moghan region

Iran's Moghan region bordering the Caspian Sea north of Ardabil Province is set to see renewed exploration activities in the near future, according to Iranian Minister of Petroleum Bijan Namdar Zanganeh. The plan for exploring the region is currently being developed, he said.

Zanganeh told a gas project ceremony in Parsabad that the government has already set aside funds to finance the studies and exploratory activities and that Iranian and foreign contractors will be chosen to carry out the project as soon as the studies have been completed.
The minister noted that wells drilled in the Moghan region in the past have shown oil indications at a depth of approximately 13,125 ft (4,000 meters) and that drilling will continue once the operations can be shown to be economically feasible.