The contract was formalized on November 1 during a video conference attended by senior officials of the Ministry of Oil of Iran and the President of Iran.
Under the deal, 12 production units in southern Iran—including the fields of Rag Sefid 1 & 2, Bibi Hakimeh 1, Kupal Bangestan, Ahvaz 1, 3 & 4 (Asmari), Golkhari 3, Lali, Haft Shahidan, Zilayi and Karun—are covered. The Kupal-Bangestan contract is specifically attributed to Neyr Pars.
Ali Taeb, Director of Business Development & Communications at Neyr Pars, signed the agreement on behalf of the group.
The five private-sector investors participating alongside MAPNA’s subsidiary are: Rasm Ara & Neyr Pars consortium, Hirbod Niroo, Tamkar Gas, Haftan Gas and KSC.
These entities will collaborate with foreign partners to accelerate technology transfer.
According to National Iranian Oil Company (NIOC) data cited in media reports, the new contracts target the daily recovery of 295 million cubic feet of flare-gas and the extinguishing of 32 flare-stacks, all within an 18-month deadline.
The move is expected to reduce greenhouse gas emissions by approximately 30,000 tons per day and generate sustainable employment in Khuzestan Province.
