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Iranian contractors drill 125,000 meters of wells at South Azadegan oilfield

Oil&Gas Materials 4 August 2015 17:18 (UTC +04:00)

Baku, Azerbaijan, Aug. 4

By Fatih Karimov - Trend: Iranian contractors drilled 125,000 meters of wells over the course of 19 months at the South Azadegan oilfield, said Mahmoud Mar'ashi, South Pars development project manager.

That was while the Chinese contractor CNPCI had drilled just 50,000 meters of wells, Iran's Shana news agency quoted Mar'ashi as saying August 4.

"After dismissing the CNPCI because of falling behind schedule in fulfilling its obligations, we managed to hit a record in drilling wells," he noted.

CNPCI signed a deal with the National Iranian Oil Company (NIOC) seven years ago for the development of South Azadegan oilfield, which is shared with Iraq. But Iran transferred the development of the oilfield to a consortium of domestic companies as CNPCI had been falling behind schedule in fulfilling its obligations.

Iran has a number of joint fields with Qatar, Saudi Arabia, and Iraq.

The oilfield is projected to produce 320,000 barrels per day (bpd) of crude oil in the first phase of its development.

Iran's production from this joint field still stands at around 50,000 bpd, while Iraq currently recovers 175,000 bpd of oil from its sector of this field and plans to raise its output to 400,000 bpd.

Edited by CN

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