Naji Saadouni, the managing director of the Petroleum Engineering and Development Company (PEDEC), also said the production of crude from the oilfield is scheduled to top 20,000 barrels per day in the coming weeks, SHANA news agency.
This comes after a Chinese firm, China Petroleum and Chemical Corporation (Sinopec), signed a deal with Iran to develop the Yadavaran oilfield which contains an estimated 12 billion barrels of oil.
Yadavarn oilfield is located in the southwestern Khuzestan Province bordering Iraq. The development project of the oilfield is expected to be implemented in three phases. Upon the completion of all phases, some 300,000 barrels of oil are expected to be pumped out on a daily basis.
Iran is OPEC's second-largest crude exporter after Saudi Arabia and sits on the second-largest gas reserves in the world after Russia.
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