BAKU, Azerbaijan, October 9. Iran is planning to boost crude oil production from the Iran-Iraq joint South Azadegan oil field (called Majoon in Iraq), an official of Iran's Petropars Operation and Management Company (POMC) Arash Akhlaghi said, Trend reports.
The official noted that the field’s production capacity will increase by 8,300 barrels per day by the end of the 9th month of the current Iranian year (December 21, 2023). This will be achieved by developing 7 more wells in the next 2 months.
Akhlaghi also said that the South Azadegan oil field is being developed by Iran's Petropars Operation and Management Company, which has a target of increasing the production potential by 67,000 barrels per day from 41 wells.
“So far, 10 wells have been completed, with a production capacity of 10,700 barrels per day. Another 5 wells are expected to be finished by the end of the 9th month, adding 4,800 barrels per day to the production potential. This will bring the total production potential from 22 wells to 23,800 barrels per day,” he added.
Akhlaghi also pointed out that the company plans to complete 9 more wells by the end of the current Iranian year (March 19, 2024), which will raise the production potential by another 30,000 barrels per day.
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. Current production from the field is 190,000 barrels per day. In Iran, this field is usually divided into two parts - North Azadegan and South Azadegan.
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, 320,000 barrels of crude oil and 197 million cubic feet (about 7 million cubic meters) of natural gas will be extracted daily from the field.
According to the second plan, 280,000 barrels of crude oil will be extracted daily from the field. In total, 600,000 barrels of crude oil daily will be extracted from the Azadegan oil field.
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