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South Azadegan Crude Output Hits 80k b/d

Source: www.gulfoilandgas.com 4/17/2017, Location: Asia

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Iran has brought oil recovery from South Azadegan oilfield, shared with Iraq, to 80,000 barrels per day after years that its output was stuck in the 50,000 b/d range.

According to Petroleum, Engineering and Development Company’s (PEDEC) Public Relations (PR), quoting from SHANA, the operator of the field’s development project Touraj Dehghani said production from the field hit the 80,000 b/d range on Sunday.

He said early production from the field has started according to the plan and will reach 110,000 b/d in its first phase.

Dehghani expressed optimism that the envisaged production level will be reached by June 2017.

Petroleum Engineering and Development Company (PEDEC) is administering development of the project and over 30 Iranian developers are engaged in the project.

The National Iranian Oil Company (NIOC) has secured a number of memoranda of understanding (MoUs) with Japan’s Inpex, France’s Total, Anglo-Dutch Royal Dutch Shell, Malaysia’s Petronas and an Iranian company for carrying out studies for developing the field.

The project is one of the over 50 projects Iran has pitched to have developed under the newly-devised model of oil contracts known as the Iran Petroleum Contract (IPC).

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