BAKU, Azerbaijan, June 11. The agreement on the development of the Iranian part of the Changuleh oil field, which is a common oil field between Iran and Iraq, will be signed soon, Iran's Deputy Oil Minister and Executive Director of the National Oil Company Iran Mohsun Khojastmehr said, Trend reports.
According to him, the aim is to produce 60,000 barrels of crude oil daily at Changuleh field.
Khojastmehr added that the value of the contract for the development of the Changuleh oil field will be $1.3 billion.
The deputy minister noted that this field has a total of 3.2 billion barrels of crude oil. In order to develop the field, 18 production wells, 2 appraisal wells, 2 waste pumping wells, and 2 maintenance wells will be drilled.
The official added that the development of the Changuleh oil field is expected to result in the employment of 6,500 people in Ilam province.
To note, the Changuleh oil field is a joint oil field between Iran and Iraq. This field is located in Ilam province in western Iran. It is currently reported that Iran is producing 15,000 barrels of oil per day from this field.
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