The managing director of the Petroleum Engineering and Development Company (PEDEC) Naji Sadouni reported of signing of a 1.5 billion dollar contract with an Iranian consortium for development of Azar oil field in near future.
Talking to shana, Mr. Sadouni said that by development of the field Iran’s oil production capacity would rise by 65 thousand barrels per day. The official added that Bank Saderat would cooperate with the project as financier.
Referring to completion of preliminary works for starting drilling, Sadouni said location of drilling wells had been specified and drilling rigs would be transferred to the area in next three or four months.
On plans to increase oil production from the West of Karoun oil region, Sadouni stated that the region’s oil production capacity would rise to 1.5 million barrels per day over a 10 year period of which 1.1 million barrels per day would come from North Azadegan, South Azadegan, Yadavaran and Azar oil fields.
According to Shana, several domestic and foreign oil companies have offered their plans to develop the Azar oil field some of them are being under consideration by the National Iranian Oil Company (NIOC).
Azar oil field is located in Anaran Oil Block between Dehloran and Ilam cities west of Iran. The field is among the toughest Iran’s oil fields in respect of drilling. Recoverable oil reserves of the field are estimated to be at 400 million barrels.
Meanwhile the managing director of the Petroleum Engineering and Development Company (PEDEC) said last week that a contract to develop Darkhovain oil field’s third phases would be signed in next two months.
On the sidelines of the inauguration ceremony of a road in the West of Karoun oil region, Mr. Sadouni told Shana reporter that the contract would be signed with an Iranian consortium.
Emphasizing on domestic capabilities to develop oil fields, the official noted that the Italian company, Eni, would not be present in the phase.
Stating that Iran’s Bank Tejarat will provide financial resources for the project, PEDEC’s managing director added negotiations on development of the project was underway.
By implementation of the Darkhovain oil field’s third phase, production capacity of the field will rise to 260 thousand barrels a day.
The second phase of Darkhovain oil field came on stream early February. By launching this phase, Darkhovain oil field production capacity increased from 50 thousand barrels a day to 160 thousand barrels a day.
Holding 5.2 billion barrels of in situ oil reserves the oil field is located in Khozestan province south of Iran.
