Tehran has signed a $440 million contract with a local company to develop the Belal gas field Iran shares with Qatar. The country's oil minister has celebrated the deal as a sign that no US sanctions can stop Iran's oil industry. The contract was signed between Pars Oil and Gas Company (POGC), a subsidiary of the National Iranian Oil Company (NIOC), and local development company Petropars.According to Iran’s Shana news agency, POGC will serve as the employer of the contract, making reservoir studies and performing sideline licensing for the purposes of the project. Petropars, in turn, is to drill eight wells in the offshore oil field,
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