BAKU, Azerbaijan, November 1. Crude oil production at three Iranian oil fields involving Russia’s ZN Vostok has exceeded the target by 7,000 barrels per day.
According to Iran’s Ministry of Petroleum, this was announced by Nasrollah Zarei, CEO of the Petroleum Engineering and Development Company (PEDEC).
"Production at Iran’s Paydar-e Sharg, Cheshmeh-Khosh and Dalpari oil fields was planned at 120,000 barrels per day. Actual output from these three fields, where the Russian company is involved, has reached 127,000 barrels per day," he said.
Zarei noted that when Iran’s current government took office in August 2024, production at the Paydar-e Sharg, Cheshmeh-Khosh and Dalpari fields stood at 41,000 barrels per day.
He added that work on projects at the Aban and Paydar-e Gharb oil fields, carried out in cooperation with the Russian company, is in its final stages. Approximately one more year will be needed to complete the remaining improvements.
According to the company official, development plans for oil fields involving Russian companies focus on increasing production beyond planned levels while also sustaining output.
According to Trend’s analysis of data from PEDEC, last year, an increase in daily production at the three fields from 60,000 to 120,000 barrels generated an additional $5 million in daily revenue from crude oil sales.
The Paydar-e Sharg, Cheshmeh-Khosh and Dalpari oil fields, located within the operating area of Iran’s West Oil and Gas Production Company, were commissioned in 2001.
In 2019, Russia’s ZN Vostok and Iran’s Iran Ofoqh and Kayson signed a 10-year contract to develop the Cheshmeh-Khosh, Dalpari and Paydar-e Sharg fields, involving an investment of $3 billion. Development work at the fields began in mid-2020.
