BAKU, Azerbaijan, Mar. 2
By Elnur Baghishov – Trend:
Iran is in a favorable and superior position compared to neighboring countries in the use of all joint oil and gas fields and the steps taken in connection with them, Iranian Oil Minister Bijan Zanganeh said, Trend reports citing the IRINN.
He made the remark during an event dedicated to launch of an oil field and a refinery in Iran on March 1.
According to Zanganeh, the Iranian Oil Ministry has fully identified the situation with all oil and gas fields during the current government's rule (the Iranian government has been in power since 2013). Thus, some fields have been put into operation. A number of contracts have been signed with contractors for the launch of some fields.
Zanganeh added that Iran's daily oil extraction capacity from the fields in the west of the Karun River has increased from 70,000 barrels to 400,000 barrels.
The minister noted that before the current government came to power, there was no extraction from the Iran-Iraq joint Azar oil field. Although a contract was signed with Iran's Sarvak Azar Engineering and Development Company in 2012 for extraction from this field, about a year later there was about 6 percent progress in operations at the field. However, later this work was accelerated.
“A total of $2.6 billion has been spent on the Azar oil field and a plant of Iran's Kangan Petro Refining Company, which were officially put into operation yesterday,” he said.
About 1.4 billion euro has been spent within the plan, according to which, the extraction from the field will reach 65,000 barrels of crude oil per day. And 31.5 million barrels of crude oil were extracted from the field.
The Kangan Petro Refining Company's recovery ethane plant in the Bushehr Province (southern Iran) was officially put into operation. A total of $970 million was spent on the construction of this plant. The plant can produce 3.5 million tons of products – 1.75 million tons of ethane, 1 million tons of propane, 500,000 tons of butane and 250,000 tons of pentane per year.
