SHANA -- The Central Processing Facility (CPF) of Azar Joint Field is now complete, marking a major step towards enhanced oil recovery at the field. Inauguration of the facility realizes the final production target of 65,000 barrels of crude oil per day in this field. The Petroleum Engineering and Development Company (PEDEC), as the employer ...

Financial Tribune - Standard parallel salaf contracts worth 2.5 trillion rials ($20 million) will be offered on the Iran Energy Exchange on Tuesday to finance Azar Oilfield projects. Securities mature in one year and can be traded in put and call option contracts. The interest rate for put option is 18.5% and for call option 19%. Interest will be ...

IRNA Iran is negotiating with the Russian oil company Gazprom to expand Azar and Changuleh oil fields, said the head of the Iran's National Oil Company on Tuesday. We are focused on expanding oil fields in the West of the country, including Azadegan and Yadavaran fields, said Gholam-reza Manuchehri. With implementing these projects, 400,000 barrels ...

SHANA - Operator of the development project at Azar joint oilfield says the project has so far made 78% physical progress. Keyvan Yarahmadi, operator of the project at the Petroleum Engineering and Development Company (PEDEC), said the field will yield 60,000 b/d of crude oil by the next Iranian year from currently half that amount. He said the ...

SHANA - Iran is currently producing 350,000 barrels per day of crude oil from West Karoon Plays and Azar Oilfield, a senior Iranian oil official says. Managing director of Petroleum Engineering and Development Company (PEDEC) Noureddin Shahnazizadeh said, "Currently, over 350,000 barrels per day of oil is being produced from the ...

SHANA Iran's production of crude oil from Azar Oilfield, shared with neighboring Iraq, has exceeded 4 million barrels, operator of the field says. Behzad Mohammadi, managing director of Oil Industries' Engineering and Construction (OIEC), told a meeting of representatives of Iranian E&P companies in Tehran on Wednesday, said production of the ...

SHANA - The total amount of crude oil recovered from Azar Oilfield has exceeded half a million barrels, an official with the Petroleum Engineering and Development Company (PEDEC) said.   Keyvan Yarahmadi, operator of the field's development project at PEDEC, said production from the field is expected to reach 30,000 b/d by the end of the ...

Shana-- Iranian Minister of Petroleum Bijan Zangeneh says production of crude oil from Azar Oilfield can reach 100,000 b/d once its second phase development project becomes operational. The official also said that the newly-devised model of oil contracts can be applied for designating a developer for the project. He also said that associated gases ...