September 03, 2018 19:51

Development of West Karoun Oil Block Behind Schedule

West Karoun oil block’s production of 300,000 barrels per day, will increase by 100,000 bpd by March 2019, while it was planned to reach 550,000 bpd during the period

About 6.4 billion barrels can be extracted from the oilfield, which will earn $230 billion for the country at the rate of $50 per barrel

In line with the Energy Ministry's push to boost output from joint hydrocarbon reservoirs, Iran's Petroleum Engineering and Development Company (PEDEC) is making efforts to ramp up crude production from the West Karoun oil block at the Iran-Iraq border, which is lagging behind schedule, PEDEC chief executive said.
"West Karoun, with 13 oilfields, enjoys top priority since the block's in-place oil reservoir is estimated to be about 67 billion barrels," Touraj Dehqani was also quoted as saying by Shana.

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Oilfields in Iran