Iranian Oil Engineering & Construction (IOEC) has awarded two contracts to China Oilfield Services (COSL) for drilling 22 wells at Phase 14 of the South Pars gas field.

The deal represents another recent landmark for Iran as it emerges from years of US and European Union energy sanctions.

IOEC, which is involved in offshore work at several phases of South Pars, wants to start drilling in May.

Industry