BAKU, Azerbaijan, March 9. Sepehr and Jufair oil fields were officially put into operation in Khuzestan province in southwestern Iran on March 8, Trend reports.
Iranian President Ebrahim Raisi, Iranian Oil Minister Javad Owji, Executive Director of the National Oil Company Mohsen Khojastemehr, and other officials attended the launching event.
With the commissioning of the Sepehr and Jufair oil fields, the potential of crude oil production has increased by 50,000 barrels per day. Currently, phase 1 has been commissioned with an expenditure of $330 million. During the first phase, 12 wells were drilled in the mentioned oil fields.
A total of $2.8 billion will be spent to fully exploit the mentioned oil fields. As a result, 110,000 barrels of crude oil will be produced daily from these fields. It is planned to drill 135 wells in these fields.
To note, the Sepehr and Jufair oil fields are located in the southwest of Iran, in Khuzestan province. The Sepehr oil field in Iran contains 5.4 billion barrels of oil. It is reported that its production could reach 450 million barrels. The Jufair oil field in Iran contains 4.4 billion barrels of oil. It is reported that its production could reach 390 million barrels.
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