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ICOFC Yields 181,000 b/d of Crude in H1

Source: Shana 10/9/2017, Location: Asia

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The Iranian Central Oil Fields Company (ICOFC) produced an average of 181,000 barrels per day of crude oil over the first half of the current Iranian calendar year which began on March 21, ICOFC managing director said.

Ramin Hatami said the company also supplied 209 million cubic meters per day of natural gas during the period.

The company governs 12 and 13 developed oil and gas fields respectively, he said, adding ICOFC is also developing 3 oil and 3 gas fields currently.

It is also planning to develop 10 oilfields and 16 gas fields in the future and for a number of which it has signed memoranda of understanding (MoUs) with Iranian and foreign developers.

Some of the fields to be developed include Cheshmeh Khosh, West Paydar, Dehloran and Aban, Hatami added.

The company's reserves hold 3 billion barrels of recoverable crude oil and over 3 trillion cubic meters of gas.

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