Energy
0

S. Azadegan Output to Reach 100,000 bpd

S. Azadegan Output to Reach  100,000 bpdS. Azadegan Output to Reach  100,000 bpd

Crude oil production from the giant South Azadegan field near the Iraqi border is expected to reach 100,000 barrels per day by December, an official at the Petroleum Engineering and Development Company in charge of the field's development said. "The field's current output, which stands at 80,000 bpd, will increase by 20,000 bpd as soon as the 13 newly-drilled wells go on stream," Touraj Dehqani was also quoted as saying by the National Iranian Oil Company's news portal. Highlighting the significance of increasing oil recovery rate in the field, Dehqani said, "Taking advantage of submersible pumps to retain production at the current level is high on the agenda." According to the official, Azadegan output will reach 160,000 barrels per day by March 2018, almost double the current production level. "The field's development started three years ago and 30 domestic companies have contributed to the project," he added. Dehqani noted that South Azadegan field will be tendered under Tehran's new model of contracts, dubbed as Iran Petroleum Contract.

 

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com