BAKU, Azerbaijan, Jan. 5
By Elnur Baghishov - Trend:
The first phase of the project for the development of the Iran-Iraq joint South Azadegan oil field in Iran’s Khuzestan province (Majnoon field in Iraq), will be completed in two years (until March 21, 2021), said Nasrollah Zarei, South Azadegan oil field development project manager at the Iranian Petroleum Engineering and Development Company (PEDEC), Trend reports referring to the company’s website.
Zarei noted that with the completion of this work, the potential for oil production at the field will be 320,000 barrels per day.
The project manager added that the increase in oil extraction at the field has been monitored on a program basis. So, if in 2013, about 40,000 barrels of oil were extracted per day, now this figure is 140,000 barrels per day, said Zarei.
“The National Iranian Oil Company (NIOC) was never waiting for foreign companies to increase oil production in the South Azadegan joint field,” the manager noted. “It relies on the ability of local manufacturers and contractors.”
More than 65 wells have been drilled at the field so far, Zarei said, adding that of course, if there were no natural disasters such as floods, production would be much higher.
The manager noted that the costs associated with increasing oil production at the field were at minimal level.
Zarei said that according to the PEDEC program, development plans for Phase 2 along with the development plans for Phase 1 of the South Azadegan oil field will also be identified.
According to South Azadegan oil field development project, 320,000 barrels of crude oil and 5.5 million cubic meters (197 million cubic feet) of natural gas will be produced daily as part of Phase 1. When Phase 2 is completed, 280,000 barrels of crude oil will be produced as part of this phase. In total, it is planned to produce 600,000 barrels of crude oil daily as part of these phases.