On the eve of inviting tenders for development of Azadegan oilfield, an official at Iran's Petroleum Engineering and Development Company (PEDEC) touched upon the latest status of the joint filed with Iraq saying “the tender is expected to be sought by the end of the current Iranian year since no time should be killed for development of the Iranian oilfield.”
PEDEC Deputy Director for Engineering and Development Tooraj Dehghani underlined that oil production in South Azadegan will reach 80 thousand barrels per day within months asserting “early production in South Azadegan had been set at 110 thousand barrels per day while review of facilities and requirements revealed the field’s daily output will rise to 80 thousand barrels by mid-March before hitting 110 thousand bpd early into the year to come.”
Caretaker of South Azadegan developmental project said recovery factor of the field was to increase by over 15 per cent within framework of new model of new model of oil contracts, dubbed as the Iran Petroleum Contract (IPC); “as found by earlier studies, recovery factor of the field stands at around five to six per cent, a figure which is far from acceptable for a reservoir which contains billions of crude barrels in place.”
“Over one third of the targeted wells, i.e. about 70 out of a total of 180, in the first phase of South Azadegan have been completed as well as that 19 drilling platforms are performing in the site.
HA/3893389