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Some 75,000 barrels of Iran ’s North Azadegan oil to be ready for mid July

Business Materials 28 April 2015 17:01 (UTC +04:00)

Tehran, Iran, Apr. 28

By Mehdi Sepahvand - Trend:

Iran's North Azadegan project director Keramat Behbahani has said that the first phase of the oil field will be operational by mid July.

The project is 94 percent carried out in physical terms, he said, SHANA news agency reported April 28.

The official expressed happiness that projects at the field are being implemented with no delay.

The field's development project was 10 percent behind schedule, Behbahani said, but the company sped up its operations at the field.

On Feb. 18, Iran issued an ultimatum to CNPC over its continuous delays in developing the South Azadegan oil field.

He went on to say that research on the second phase is finalized. The official further explained that the second phase will likely progress in a stage-by-stage manner.

It has been agreed in the contract that besides the 75,000 barrels of the first phase, 25,000 barrels will also be produced as part of the second phase, Behbahani pointed out.

He said that the first stage of the second phase would be carried out in three years. He added that although usually the contractor of the first phase is given the chance to carry out the second one, the CNPCI - China National Petroleum Corporation International - is also one of the runners for the project.

CNPC has signed a $2 billion contract to produce 120,000 barrel per day of petroleum from the North Azadegan field.

CNPC had been awarded with developing North Pars oil field, Yadavaran joint oil field, North and South Azadegan fields, and the phase 11 of the South Pars gas field, but delays in implementing the projects have marred its reputation with Iran.

Edited by CN

Mehdi Sepahvand is Trend Agency's journalist in Iran , follow him on Twitter: @mehdisepahvand

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