The IPC contract for the development and production operations of the Band-e Karkheh Oil Field is now officially effective. This strategic agreement will be implemented with the aim of increasing production capacity, optimizing the utilization of hydrocarbon resources, and enhancing operational efficiency in the country’s oil industry. According to the Public Relations Department of MAPNA Oil and Gas Development Company(OGDC), the contract was deemed effective on February 17 following the completion of all legal and executive procedures. Its implementation is considered a significant step toward sustainable development and increased oil production in the West Karun region. The 15-year contract will be executed with a capital investment of approximately USD 432 million in the Hamidiyeh area of Khuzestan Province. The project is expected to play an effective role in enhancing production capacity, optimizing operational processes, and advancing the development objectives of Iran’s oil industry. The implementation of this project, while strengthening domestic capabilities in the exploration and production sector, also reflects the continuation of a development-oriented approach and the active participation of the private sector in strategic upstream oil industry projects in Iran.