IRNA -- Operator of the Project for Development of Yadavaran Field Hadi Nazarpour says oil production from Yadavaran joint field has exceeded 115,000 barrels per day.
Nazarpour said that the production is 30,000 barrels beyond the target set for the first phase.
He noted that based on the schedule, oil production from the field should have reached 85,000 barrels per day.
The Sinopec had undertaken the project for development of the first phase of Yadavaran field on a buy-back contract in order for production of 85,000 barrels of oil per day.
Nazarpour said aggregated production from the field has reached 65 million barrels.
Once the second phase of the project is on stream, the ceiling of production from the field will reach 180,000 barrels per day while reaching 300,000 barrels per day once the third phase is fully operational.
The field's in-situ reserves are expected to hold 31 billion barrels of crude oil.
Yadavaran field is 10 km southeast of Azadegan field and about 70 km southwest of Ahvaz and north of Khorramshahr. It is a field Iran shares with Iraq.