The southern part of the Bande Karkheh Oil Field is classified as a Green Field, and its development and operation are included in the development plans of the Iranian Ministry of Petroleum. In this regard, the National Iranian Oil Company awarded the development and operation of the Band-e-Karkheh Field to OGDC in 2024 under a 15-year service contract under the Iran Petroleum Contract (IPC) framework.

The Band-e-Karkheh Oil Field, with an estimated oil in place of 980 million barrels, is located in Khuzestan Province, approximately 20 kilometers northwest of Ahvaz. The investment cost for the development and operation of this field is around 440 million dollars.

The most important plans for the development and operation of the Band-e Karkheh oil field involve drilling and completing 12 wells, including horizontal drilling to increase productivity, as well as cluster drilling due to the field's geographical location near the city and agricultural farms, with the goal of producing 56 million barrels of oil. These efforts are designed to maximize efficiency while addressing environmental and logistical challenges in the region.