Iran plans to conclude drilling of the first exploration borehole in the Caspian Sea by March 2012, director of the drillworks section of the National Oil Company of Iran Mahmoud Mukhaddis said, Trend reports.
Iran has invested over $500 million in the project.
Iran started drilling the borehole at the Amir Kabir platform in mid-February 2010. The first stage includes drilling three exploration boreholes to make estimations of reserves.
