Azerbaijan, Baku, Dec. 21/ Trend M. Moezzi
Iran has surpassed Oman in extracting oil from the joint Hengam field with Oman in Persian Gulf, Mehr News quoted National Iranian Offshore Oil Company (NIOOC) Managing Director Mahmoud Zirakchianzadeh as saying.
Currently, Iran produces 22,000 bpd of oil from the Hengam field, 2.5 times more than Oman's 9,000 bpd.
Zirakchianzadeh added that with installing two new jackets, a new oil rig is being digged in this field as well.
The NIOOC head said Iran's oil production capacity in the Hengam field will increase to 30,000 bpd by year's end (the Iranian solar year ends in March).
Iran has three wells in Hengam and will drill two more by the end of this year.
The Hengam joint oil field was discovered in 1975 with one oil well. The field's second oil well was drilled in 2006 and reserves were studied. The field holds more than 700 million barrels of oil and gas in an area totaling 2 trillion cubic feet.
Three years ago, Oman began working with a British company to produce crude oil from the Hengam field. A 25 km pipeline was laid from the field to facilities at Ras Al Kahiman in the UAE and Oman's oil production capacity was 10,000 bpd.
Although Iran started drawing oil a year later than Oman, it produces 22,000 bpd of ultra-light oil.
The Hengam joint oil field is 45 km from Iran's Qeshm Island. Iran will use about €90 mln from the Energy Fund to invest in a gas refinery in Qeshm.
The National Iranian Oil Co. (NICO) has put the cost of the first phase of development in Hengam at $450 mln.
