BAKU, Azerbaijan, March 6
By Elnur Baghishov – Trend:
Iran is taking a number of steps to increase crude oil extraction from its joint oil fields with Iraq, Executive Director of Iran’s Petroleum Engineering and Development Company (PEDEC) Abouzar Sharifi said, Trend reports citing the company’s website.
Sharifi noted that as a result, in the first stage, oil extraction from the Iran-Iraq joint oil fields will rise to the level of the period before the US sanctions against Iran.
The director also added that the PEDEC and the Arvandan Oil and Gas Production Company are closely following the Iranian Oil Ministry's program to develop joint oil fields with Iraq, especially the South Azadegan oil field.
"Iran is expected to increase oil extration from the South Azadegan oil field by 15,000 barrels by the end of the current Iranain year (March 20, 2022)," he said.
Reportedly, Iran has five joint oil fields with Iraq.
Iran's Azadegan oil field is located 80 km southwest of 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 the Azadegan oil field.
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