11 billion dollar project with an empty account; Dangerous game of banks in Azadegan oil field

According to the report of “Energy Press”, if we want to tell the story of the development of Azadegan field frankly and without compliments, we are dealing with one of the strangest projects on paper in the oil industry. A project whose name is an investment of 11 billion dollars, but in practice it has not even seen the smell of money.
The development of Azadegan Square has been assigned to “Dasht Azadegan Arvand”; A company whose credit of 11 billion dollars, including bank fees, rises to 22 billion dollars on paper, but it has been heard that the banks that are members of this consortium may not even have 500 million dollars in cash.

In April, National Oil Company signs a 231 million dollar agreement with Dasht Azadegan Arvand in order to keep the project on the ground. Money for preliminary work before the main contract, including the purchase of downhole pumps, drilling equipment, preliminary preparations. But now 9 months have passed and the result? Not even $2 million has been spent. No pump has been bought, no equipment has entered the site. Roshan Oil Company also says: until the initial obligations are fulfilled, the main contract will not be implemented.
But what has Arvand Azadegan Plain done? Instead of equipping the arena, he bought a huge building, recruited massive manpower and reportedly paid astronomical salaries, which are more for luxury private projects than the development of a national arena. The saddest thing is that these wastes are eventually going to be invoiced in the name of “project cost”; It means that Azadegan should spend on construction and salaries, not oil production.