The development plan of Mansouri Oilfield in Khuzestan Province is underway and three wells (122, 123 and 124) have started production in the first half of the current Iranian year (March-September), said the director of oilfields development plan at the National Iranian South Oil Company.
“With the new wells coming on stream, the output of the field has increased by 4,500 barrels per day,” ILNA also quoted Abdolmajid Esfandiarpour as saying.
Located 50 kilometers southeast of Ahvaz in the oil-rich Khuzestan Province, Mansouri Oilfield is a reservoir of 3.3 billion barrels of crude in southwest Iran. It became operational in the 1970s and plans call for lifting the field's output from the present 60,000 barrels per day.
Iran hopes to bring its oil output to over 5 million barrels per day from the current 2.5 million bpd. Some of the Iranian oilfields have already matured. Their oil has partly been recovered, but cutting-edge technologies are needed to extract the remaining oil.
Mansouri Oilfield is one of the reservoirs that Iran is working on to increase output. The high rate of recovery from the field has added to its significance.
The latest studies indicate that the average rate of recovery from oilfields in Iran is about 28%, while the Mansouri field has a recovery rate of 47%.
Despite the US sanctions, Iran has continued development projects in oil, gas and petrochemical industries.
The previous US administration unilaterally withdrew from the 2015 nuclear deal signed between Iran and six world powers in May 2018. It reimposed sanctions on Iran, targeting its key economic sectors, namely oil, banking and shipping industries.
With indirect talks continuing between Iranian and American officials regarding the revival of the nuclear deal and removal of sanctions, Iran is expected to boost its oil output in the near future.
