Iran to start well drilling in Caspian Sea May 15

Iran is planning to start works to drill wells in the northern part of the oil-rich Caspian Sea on May 15, said Asker Rafii, chief executive of the Northern Drilling Company of Iran. He said President Mahmud Ahmadinejad will set due instructions during the May 15 video conference.

According to ISNA, at the first stage Iran will hold works at two exploration wells. The direct development of the oil field will be held later.

/Trend Capital/