Baku, Azerbaijan, Sept. 12
By Fatih Karimov - Trend: Iran's Arvandan Oil and Gas Company will boost production from its operating oilfields by 100,000 barrels per day by the end of the current Iranian fiscal year (March 2016).
Soltan Kamali, the managing director of Arvandan Oil and Gas Company, said that the oilfields are currently producing 200,000 barrels of oil per day, Iran's Shana news agency reported on September 12.
Some of Arvandan oilfields, including Yadavaran, Azadegan, Darkhovin, and Yaran, are associated with Iraq, while some others like Arvand, Soosangerd, Sepehr, and Khorramshahr are not associated.
Kamali added that producing 1.4 million barrels oil per day from Arvandan oilfields by 2025 is projected.
The associated and the non-associated oilfields hold 8.68 billion barrels and 2.89 billion barrels of in-situ reserves, respectively, he noted.
While Iran has 28 joint oil and gas fields with neighbors, the country hasn't commenced any new oil filed since 2007 and the development pace of other fields are very slow.
Iran plans to make $20 billion investment to boost its oil production by over 700,000 bpd by the end of Iranian calendar year 1396 (March 2017-March 2018).
The country hopes to raise oil production from West Karoun (the five oilfields Iran shares with Iraq) to 250,000 barrels per day by the end of this Iranian year, from the currently 100,000 barrels per day.