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Iran to drill its first oil well in Caspian Sea

TEHRAN (ISNA)-Iran plans to start excavation in its northern oil-rich region, Caspian Sea, beginning on May 15.

This will make Iran's first time oil exploration in Caspian Sea, said Iran's North Drilling Company Managing Director Asghar Rafiei adding President Mahmoud Ahmadinejad will be present at the inauguration whether directly or through videoconference.

Iran will first drill two exploration wells in the location and then will develop the oilfield and hopes it will enjoy oil and gas reserves in the sea like other littoral states.

... Payvand News - 04/27/09 ... --

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