Global leaders in the energy sector Russia's Gazprom Neft, Austria's OMV and Malaysia's Petronas have presented their proposals for the development of Iran's Cheshmeh Khosh oil project, a report said.

The proposals were explained at the 145th committee meeting of National Iranian Oil Company (NIOC)'s reservoir advisors in Tehran, reported Iran Daily, citing Shana.

The plans presented by OMV and Gazprom Neft define a production ceiling for the field while Petronas seeks to enhance the field's production capacity.

Cheshmeh Khosh is a large oilfield with two reserves in Asmary and Bangestan, the report said, noting that currently oil is being produced only from Asmary while Bangestan is yet to be developed.