TEHRAN, Oct. 12 (UPI) -- Tehran said it suspended a Chinese gas contract and replaced Russia's Gazprom Neft with a domestic company as energy production in the country slumps.
The Iranian Oil Ministry announced it signed a contract with state-controlled oil companies to develop the Azar oil field within the next five years. Tehran said production there could reach more than 50,000 barrels per day. The field, along Iran's western border, is shared with Iraq.