BAKU, Azerbaijan, January 15. Iran's oil production at the joint oil field South Azadegan (Majnoon in Iraq) with Iraq has increased to 150,000 barrels per day, Executive Director of Iran's Arvandan Oil and Gas Production Company Abdollah Ozari Ahvazi told reporters, Trend reports.
According to him, nevertheless, the crude oil production from this field was expected to be 124,000 barrels per day.
Ozari Ahvazi noted that the increase of production from oil wells located in the territory of the oil and gas-producing company from Arvandan is reviewed by specialists within the framework of programs.
The official noted that 61,000 barrels of crude oil are produced daily from the North Azadegan field located in the company's territory, and from the Darkhovin field, 100,000 barrels.
“The average production from each reservoir is declining by about 5 percent per year. Therefore, in order to maintain production, it is necessary to constantly take numerous steps,” he noted.
The South Azadegan oil field contains 28.2 billion barrels of crude oil, of which 1.6 billion barrels are reportedly possible to produce. Under the plans related to the development of the field, the first plan envisages daily production of 320,000 barrels of crude oil and 197 million cubic feet (about 7 million cubic meters) of natural gas from the field, while the second plan foresees daily production of 280,000 barrels of crude oil.
To note, the Arvandan Oil and Gas Company is affiliated with the Iranian National Oil Company. At present, the daily crude oil production potential of the Arvandan Oil and Gas Company is 400,000 barrels. This company can also produce 7.64 million cubic meters (270 million cubic feet) of gas daily.