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West Karoun to Raise Iran’s Oil Output by 570,000bpd

Source: www.gulfoilandgas.com 1/27/2015, Location: Asia

Iran’s oil output will increase by 570,000 barrels per day by the next four years once the five oilfields the country shares with Iraq, dubbed the West Karoun oilfields, start production.

Yadavaran, North Azadegan, South Azadegan, North Yaran, and South Yaran oilfields are located at the western part of Iran’s southwestern region of Karoun, straddling borders with Iraq.

The first phase of the West Karoun oilfields’ development plan will be implemented over the course of four years, according to Iran’s Petroleum Engineering and Development Company (PEDEC).

The country’s daily oil output is projected to be increased by over one million barrels when the second phase of the development is complete.

The Yadavaran oilfield’s daily production is planned to reach 85,000 barrels when the first phase of the oilfield’s development plan is complete by the end of the first half of the next Iranian calendar year (September 2015), according to Hadi Nazarpour, the oilfield’s development project manager.

Nazarpour made the statement during a visit of reporters to the West Karoun oilfields on January 20.

North Azadegan oilfield’s daily output is projected to hit 75,000 barrels when the first phase of the oilfield’s development plan is complete in early July, Keramatollah Behbahani, the oilfield’s development project manager said.

He put the amount of in-situ reserves of the oilfield at 5.7 billion barrels.

South Azadegan oilfield’s daily output is planned to reach 80,000 barrels in the next Iranian calendar year (March 2015-March 2016), according to Mahmoud Mar’ashi, the oilfield’s development project manager.

He said the oilfield has 25 billion barrels of proven in-situ reserves.

Early production started in North Yaran oilfield in February 2013. The oilfield is projected to produce 30,000 barrels of crude oil.

Production in South Yaran oilfield is planned to be started by the end of the next Iranian calendar year (March 2016).

Iran’s crude oil output was projected to remain 2.8 million barrels per day in December 2014, unchanged compared to previous months.

Iran plans to increase crude oil output to 5.7 million barrels per day by 2018, according to Oil Minister Bijan Namdar Zanganeh.

Iran, with 157 billion barrels of proven oil reserves, holds the world’s fourth-biggest oil deposits, according to the BP Statistical Review of June 2014.



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