BAKU, Azerbaijan, Oct. 25
By Elnur Baghishov – Trend:
The Iranian Petroleum Engineering and Development Company (PEDEC) should accelerate work on the development of the South Azadegan oil field within the next year, new Iranian Deputy Oil Minister and the CEO of the National Iranian Oil Company (NIOC), Mohsen Khojastamehr said, Trend reports citing the company’s website.
The CEO emphasized that there is a great stagnation in the process of development of the fields west of the Karun River, and the necessary steps must be taken to overcome this stagnation.
Khojastamehr added that about $11 billion worth of investment is needed to complete the work on second phase of Iran's North Azadegan and Yadavaran fields, along with the South Azadegan and Yaran fields.
“With the development of oil fields west of the Karun River, more than 1 million barrels of oil will be extracted from this area per day,” he said.
The deputy minister noted that the National Iranian Oil Company considers the development of these fields and the achievement of the planned extraction as one of its main goals.
As reported, Iran's Azadegan oil field is located 80 km southwest of the Ahvaz city in the Khuzestan Province (southwestern Iran). It is estimated that the field contains about 32 billion barrels of oil. In Iran, this field is usually divided into two parts - North Azadegan and South Azadegan.
Iran's North Azadegan oil field is being developed by the Iranian Petroleum Engineering and Development Company (PEDEC). As a result of development, the extraction from this field will increase by daily 75,000 barrels in the first stage, and by 150,000 barrels in the second stage.
Reportedly, daily 55,000 barrels of oil are extracted from this field at present.
At present, crude oil extraction from Iran's South Azadegan oil field is 85,000 barrels daily. The field contains 28.2 billion barrels of crude oil, of which 1.6 billion barrels can be extracted.
According to the first plan for the development of this field, daily 320,000 barrels of crude oil and 197 million cubic feet (about 7 million cubic meters) of natural gas will be extracted from the field.
According to the second plan, daily 280,000 barrels of crude oil will be extracted from the field. In total, 600,000 barrels of crude oil daily will be extracted from Azadegan oil field.
The Yadavaran oil field, which is located 60 km southwest of the Ahvaz city in the Khuzestan Province on the Iran-Iraq border, contains 6.3 billion barrels of oil.
It is estimated that about 6.2 billion barrels of this volume can be extracted. The extraordinary extraction from this field exceeded 50,000 barrels per day. More than 110,000 barrels of oil are currently extracted daily from the first phase of the field through 49 wells.
Iran's Yaran oil field consists of two parts, North Yaran, and South Yaran. It is forecast that Iran's Yaran oil field contains about 2 billion barrels of crude oil. It is possible to extract about 100 million barrels of it. At present, daily 40,000 barrels of crude oil are extracted from this field. In total, Iran plans to extract 39.5 million barrels of crude oil from the field over 10 years.
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