Energy
0

North Yaran Output to Reach 30,000 bpd by Sept.

North Yaran Output to Reach 30,000 bpd by Sept.North Yaran Output to Reach 30,000 bpd by Sept.

The North Yaran Oilfield in Khuzestan Province is due to increase production to 30,000 barrels of oil per day by September, the director of the field’s development plan announced.

Arash Baqerzadeh added that the commissioning process of North Yaran is underway and slated to be completed by the end of next month, ILNA reported.

North Yaran has more than 900 million barrels of in-place oil, with an API degree of between 16 and 18, which puts the field's output among Iran's lighter crude blends.

It is located 130 kilometers off the provincial capital Ahvaz, close to the Iraqi border.

Production from the first North Yaran well started in 2013, with the field's development having made an estimated 85% progress.

According to the official, gas compressors of the field’s processing unit are planned to be imported by mid-October.

Baqerzadeh underscored that North Yaran’s evaluation well is in the stage of obtaining permission to start drilling operations.

A total of 19 oil wells have been scheduled to be drilled within the framework of the development plan.

Raising production from joint oilfields is one of the main priorities of the Oil Ministry in the post-sanctions era, as the country aims to seize back market share it lost to rival producers, particularly from OPEC's de facto leader Saudi Arabia and the group's second-largest producer Iraq.

Financialtribune.com