Energy
0

79% Progress in Azar Oilfield

79% Progress in Azar Oilfield79% Progress in Azar Oilfield

In line with the government's push to speed up production from fields shared with its western Arab neighbor, operations to drill 17 wells in Azar Oilfield, located in Anaran block bordering Iraq in Mehran, lIam Province, are underway, the chief executive officer of Iran's Petroleum Engineering and Development Company (PEDEC) said.
These operations have been undertaken in cooperation with Sarvak Azar Engineering and Development Company and the National Iranian Drilling Company.
"The venture has registered a work-in -progress rate of 79% and it is expected to be completed by March 2019," Noureddine Shahnazi-Zadeh was also quoted as saying by IRNA on Tuesday. 
According to the official, as more wells become operational, the joint field's output, currently at 30,000 barrels per day, will increase gradually to reach the final target of 65,000 bpd.
 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com