Sinopec and OESC signs contract on Garmsar oil block.

On June 20th, 2006, Sinopec Group and Iran Oil Exploration Services Company (OESC) singed a contract on exploration and development of the Garmsar oil block, Semnan, Iran.

Garmsar oil block has an area of 12 183 square kilometers, and is one of tenders for sixteen oil blocks that were offered by Iran Government in March 2003. Sinopec's initial talks were held on the development contracts for four blocks, namely Garmsar, Khorramabad, Kuhdasht, and Saveh.