In its session on March 4, 2025, the Economic Council approved the investment in the development and production operations plan for the Band-e-Karkheh oil field, proposed by MAPNA OGDC. This approval marks a significant milestone in the execution of the contract, paving the way for the field's development to begin.
Located in Hamidiyeh, Khuzestan Province, the Band-e-Karkheh oil field holds an estimated one billion barrels of oil in place. Under this approval, MAPNA OGDC, the exploration and production company of the MAPNA Group, will oversee the field’s development and operation within the IPC framework for a 15-year period. Once fully developed, the Band-e-Karkheh project is expected to boost the country's oil production by 18,000 barrels per day, strengthening national production capacity and enhancing energy security.