TEHRAN, Sept. 18 (MNA) – The in-place oil reserve in Azar Oilfield of Anaran Block, southwest Iran, is set at two billion barrels, exploration affairs manger of National Iranian Oil Company (NIOC) told the Persian service of IRNA on Monday.

“It seems that 16% of the reserve, 300 million barrels, lends itself to feasible production and based on preliminary data the field could yield 55,000 to 60,000 barrels per day,” Seyyed Mahmud Mohaddes noted.

 

At the moment, negotiations with the Norwegian Hydro Zagros and Russian Lukoil on development plans at Azar are in progress and it may require 5-6 months before an agreement reached.

 

“Hydro and Lukoil may assume 75% and 25% of the development respectively as they did at the exploration phase of Anaran once a contract is in place,” he elaborated.

 

Anaran oil block is located along Iran-Iraq border in Dehloran region.

 

ML/MA

END

MNA

 

 

       

News Code 19721

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