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Iran Expects Progress in South Azadegan

Source: www.gulfoilandgas.com 8/19/2014, Location: Asia

Iran expects tangible progress in the development of South Azadegan oil field in the coming months, a top official said.

“Our estimates show that we will witness an acceptable level of progress” in December or January, Rokneddin Javadi, managing-director of National Iranian Oil Company, said.

He said that four drilling rigs have been provided to the field after the removal of China’s CNPCI. He added that 10 rigs will be operating in the field, shared with Iraq, soon.

CNPCI’s several years of foot-dragging on the development of South Azadegan, shared with neighboring Iraq, ended in the termination of cooperation with this contractor in the field.

In the first phase of the development of South Azadegan field, 320,000 b/d of crude will be recovered. For that purpose, 385 wells need to be drilled in this field. So far, 12 wells have been drilled. The initial budget approved for the development of South Azadegan is 500 million dollars plus 500 trillion rials.

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