Azar oil output to hit 30k bpd

News ID: 3936262 -
TEHRAN, Mar. 20 (MNA) – An oil official said the volume of crude recovery at Azar oilfield will climb form the current 15,000 to 30,000 barrels per day by May 21.

Deputy Head of NIOC for Development and Engineering Affairs Gholamreza Manuchehri said implementation of projects to increase recovery factor in Iranian oil reserves will open a new chapter in the country’s oil industry which is now enjoying bright prospects owing to results of recent technical studies.

On development of Azadegan field, the official said currently 70 thousand bpd is being produced at South Azadegan field though the figure is expected to reach 85k bpd by April 20 and later rise to 110k bpd by May 21.

He believed that output volume of South Yaran field will hit 10 thousand barrels per day in late spring while the figure will be increased to 25k bpd by the end of the next Iranian calendar year.

“Advancements in various Iranian oil fields have paved the path for independence of the country’s economy sector as well as for recovery from joint fields as a major objective of Resistance Economy policy,” highlighted Manouchehri stressing that majority of activities have been carried out by domestic firms and capable Iranian experts.

NIOC deputy head postulated that the route of growth, promotion and development has been taken and inauguration of new projects marks a gift to the nation on the eve of the new Iranian year ‘Nowruz’.

“The new projects in South Pars joint gas field and South Pars Oil Layer have been accomplished by 20 billion dollars of investment indicating an unprecedented figure all through history of Iran’s oil industry.”

The official underlined that the upsurge in oil and gas output will promote Iran’s position in Organization of Petroleum Exporting Countries (OPEC).

Manouchehri, while pointing to nonstop efforts of the Petroleum Ministry to boost recovery factors at oil reserves via state-of-the-art technology, said “studies have revealed that some oilfields with a recovery volume of 50 thousand barrels of crude per day are capable of yielding 300 thousand bpd.”

He emphasized that domestic and foreign companies have so far submitted results of technical studies over 15 Iranian fields; “the outcomes reveal a great potential for increasing crude oil production levels as the project to uplift recovery factors will kick off in the year ahead.”

The oil official recounted on oil tenders saying “international companies have been invited to the tender and preliminary negotiations have been conducted to from a consortium of participants while the tender will be held in the coming year.”

He said talks were underway to conduct huge and precious oil projects asserting “the new projects will open a new window to the Iranian oil industry.”

Oil Ministry will carry out development projects in a way that national interests are fully met as well as that technology transfer and optimum use of domestic productions are considered in line with the Sixth National Development Plan as well as Resistance Economy policies.

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