BAKU, Azerbaijan, July 5. The production potential of Iran's joint oil field with Iraq, the South Azadegan (Majnoon in Iraq), has grown to 84,200 barrels per day.
This was announced by the Iranian PetroPars Company, citing remarks of the company's CEO, Hamidreza Saghafi.
"The number of wells commissioned by PetroPars Company in Iran's South Azadegan oil field has risen to 49, and the production potential has increased to 84,200 barrels per day," he noted.
Saghafi said that well No. 75 in the South Azadegan field has been commissioned, while well No. 88, which has a production potential of 500 barrels per day, is ready to be commissioned after the installation of wellhead equipment.
Saghafi said that the development of the South Azadegan oil field, as one of the strategic plans of the country's oil industry, has a fundamental role in increasing production, ensuring maximum production from joint oil fields, and strengthening the country's energy security.
The company official pointed out that with the support of the National Iranian Oil Company and the efforts of all contractors and employees related to the development of the South Azadegan oil field, PetroPars Company is seriously paying attention to the development of the country's joint fields with other countries. At the same time, he hopes that other effective steps will be taken towards the development of the South Azadegan oil field by continuing the solidarity.
The Azadegan oil field, located across an area of about 1,500 square kilometers in Iran, contains an estimated 32 billion barrels of crude oil. On the Iranian side, the field is divided into northern and southern sections. On July 5, 2022, an agreement was signed between the National Iranian Oil Company (NIOC) and state and private drilling and oil companies to increase production at the field. The agreement is valued at $7 billion and is scheduled to be completed within two years.
Under the plan, daily output is expected to reach 570,000 barrels, with drilling planned for around 420 wells at the field.
Earlier, Seyed Jafar Aghaei Maryan, the chargé d'affaires at the Iranian Embassy, said in response to a question from Trend that Iran has experienced a recent increase in its crude oil exports.
Notwithstanding the prevailing geopolitical dynamics and economic sanctions, the spokesperson underscored that there have been no perturbations in Iran's operational capacity to facilitate oil exports.
