BAKU, Azerbaijan, May 7. Iran's Arvandan Oil and Gas Company has started preparing a number of technical programs for the development of the Arvand oil field, Executive Director of the company, Abdollah Ozari Ahvazi told IRNA, Trend reports.
The director noted that in this regard, 3 discovery wells were drilled in the Arvand oil field. According to the information obtained from the discovery wells, the ‘Fahlian’ reservoir contains very light oil of API-40 quality.
Ozari Ahvazi added that according to the preliminary program prepared for the development of the Arvand oil field, it is planned to drill a new well and repair a well.
He also pointed out that currently a tender is being held for the mentioned two wells. Some 11 local companies have indicated their readiness to carry out the mentioned operations, and currently those companies are being evaluated in terms of quality.
The director stressed that it is expected that the initial work related to the development of the Arvand oil field will last for about 1 year.
Iran's Arvand oil field is located in the Khuzestan Province (southwestern Iran). Reportedly, the field contains approximately 1.2 billion barrels of crude oil, 14 billion cubic meters of gas, and 55 million barrels of gas condensate. At present, Iran produces 20,000 barrels of crude oil daily from this field.
The Arvandan Oil and Gas Company operates under the auspices of the National Iranian Oil Company (NIOC). The company has a capacity to produce 400,000 barrels of crude oil per day. The company can also produce 7.64 million cubic meters (270 million cubic feet) of gas per day.
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