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Production Commences at N. Yaran Oilfield

Production Commences at N. Yaran OilfieldProduction Commences at N. Yaran Oilfield

Drilling operations of three wells in the North Yaran oilfield have ended and extraction from the wells has begun, director of the field said Tuesday.

"In the first development phase, 97 projects are to be carried out in the North Yaran field, of which 90 are under implementation," Shana news agency quoted Arash Bagherzadeh as saying.

The North Yaran field output is to reach 30,000 barrels per day (bpd) in its first development phase, by March 2016.

The field's first well is currently producing around 1,500 bpd. Extraction from a fourth well is expected to commence in the next few days, he noted.

A total of 19 oil wells are scheduled to be drilled within the framework of the development plan.  Four drilling rigs are already operational.

The North Yaran field has more than 900 million barrels of oil in place, and is located in Khuzestan Province in south Iran, 130 kilometers from the city of Ahvaz and close to the Iraqi border.

Iran's oil production capacity will rise by 90,000 bpd once the South and the North Yaran oil fields come on stream.

 

Financialtribune.com