The firm, a subsidiary of National Iranian Oil Company, says the five gas fields are: Gardan in Fars province with a budget of $555m, Assaluyeh in Bushehr province costing $1.1bn, Mokhtar in Kohkilouyeh province worth $500m, Salakh in Hormuzgan province with $225m and Kabir-Kuh in Ilam province costing $465m.

It hopes to hit gas production of 1.5 billion cubic feet a day (cf/d) as a result of the development.

The oil fields, with targeted output of 60,000 barrels-a-day (b/d), are Kuh-e-Mond in Bushehr with a budget of $45m, Veyzenhar in Lorestan costing $45m, Cheshm-e-Kosh in Ilam worth $270m, Alborz in Qom costing $45m and Bushgan, Bushehr and Kuh-e-Kaki in Bushehr all costing $45m.

Prequalification documents for the buyback contract are available from 5-12 November on payment of a bid bond.