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85,000 b/d from Yadavaran Oilfield phase1 by 1stQ of Iranian year

Source: www.gulfoilandgas.com 1/9/2015, Location: Asia

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“85,000 barrels of crude oil will be produced per day from Yadavaran Oilfield, Phase 1 by the first quarter of the next Iranian year (beginning from March 2015),” supervisor of the Development Project of Yadavaran Oilfield said.

According to Petroleum Engineering and Development Company’s (PEDEC) Public Relations (PR), “The current progress of the Development Project of Yadavaran Oilfield is some 95%, while the progress of drilling 55 wells has completely accomplished, so we will have final production by the first quarter of the next Iranian year,” Hadi Nazarpour said.

Iran has recovered more oil than its western neighbor Iraq from an oil field they share, the manager of the field development project said.

Hadi Nazarpour said Iran would be producing 85,000 b/d from Yadavaran oil field by next September.

Nazarpour said the second phase of the project envisages 180,000 b/d output.

He said that the Chinese contractor developing the field has failed to fulfill its obligations with regard to the development of the field. He said the project has been delayed 15 months.

China is developing the field under a 2.9-billion-euro buy-back deal.

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