Publishe Date: 10:53 AM - 1/27/2014 | Print

North Azadegan Development in Progress

Economy - The Development plan of North Azadegan oil field has made progress by 61 percent, managing director of the Petroleum Engineering and Development Company (PEDEC) Abdolreza Hosseinnejad said.

PEDEC chief told the oil ministry's website that the first phase of the project, which is underway under a buyback contract, will be complete in the next 18 months.

Upon the completion of the first phase, 75 thousand barrels per day of oil will be produced from the field but the company is also involved in talks with the contractor of the project for early production, the official said.

It is estimated that 58 wells to be drilled in the field, of which drilling 44 wells is over, he said.

According to Hosseinnejad, upon the completion of the second phase, oil production will rise to 150 thousand barrels per day.

Chinese oil company, CNPC, is developing South and North Azadegan oil field as contractor.

As a shared oil field with Iraq, North Azadegan oil field is located 120 km west Ahvaz, south Iran. PEDEC is in charge of development plans of the oil fields located West Karoun region that include North and South Azadegan, North and South Yaran and Yadavaran oil fields.

Tags: oil -
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