The Chairman was inspecting an oil well near Fakhreh, which was developed with the help of an unidentified Chinese company. According to the Director of the Exploration Affairs Department at Iran’s Petroleum Ministry, Mahmud Mohaddes, “[The] contract for its development was signed with a Chinese company about three years ago.”

“Under the contract, the Chinese party would undertake all the expenses of the project,” added Mahmud who also confirmed the well would be completed in three months time and had already reached a depth of 1,200 metres.