BAKU, Azerbaijan, March 5. Iran's crude oil production at the joint oil field South Azadegan (Majnoon in Iraq) with Iraq has increased to 4,000 barrels per day, CEO of Iran's Petropars Group Hamidreza Saqafi told reporters, Trend reports.
According to him, in this regard, two new production wells have been commissioned in the South Azadegan oil field.
''This step was taken to develop the country's joint oil fields and help eliminate the country's energy shortage,'' he explained.
Saqafi noted that with the commissioning of the two new wells, the number of wells for the development of the South Azadegan oil field has reached 33 and the production potential has increased to 48,900 barrels per day.
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 seven million cubic meters) of natural gas from the field, while the second plan foresees daily production of 280,000 barrels of crude oil.
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.
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