20 May 2024
Saturday 23 November 2013 - 14:34
Story Code : 66333

PEDEC chief outlines latest developments in shared oil fields

PEDEC chief outlines latest developments in shared oil fields
TEHRAN (FNA)- Managing director of the Petroleum Engineering and Development Company (PEDEC) Abdolreza Hosainnejad said Yadavaran and Northern Azadegan oil fields will come into operation by the end of the current Iranian year (i.e. March 2014).

Speaking to Shana, the PEDECs managing director said the company has put development of shared oil fields, located in the West Karoun region including Yaran, Azadegan and Yadavaran oil fields, which Iran shares with Iraq, on top of its agenda.

He further expressed hope early production from the independent Kish gas field to realize as soon as possible.

According to the official, Northern Azadegan oil field will yield 30 thousand barrels per day under its early production plan.

On Southern Azadegan oil field, he noted that production of 50 thousand barrels of oil per day is under way from the field which will rise to 320 thousand barrels upon the completion of the first phase of its development plan ant to 600 thousand barrels per day in the second phase.

The oil field will yield 197 thousand cubic feet of gas per day as well in the first phase, PEDEC chief said.

Development plan of South Azadegan oil field is going on under a buy back contract has been signed earlier between CNPCI and NIOC.

Hosseinnejad said that under the development plan of Yaran oil field, which Iran shares with Iraq, it will produce 30 thousand barrels of oil per day.

By Fars News Agency


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