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Iran starts early production from joint oil field with Iraq

Business Materials 15 March 2017 09:56 (UTC +04:00)
Iran started early oil production from Azer field on March 14, Shana reported.
Iran starts early production from joint oil field with Iraq

Baku, Azerbaijan, Mar. 14

By Emil Ilgar – Trend:

Iran started early oil production from Azer field on March 14, Shana reported.

According to the report, the early output is 15,000 barrels per day (b/d) now and the figure would reach 30,000 b/d in spring.

The final production capacity of the field would be 65,000 b/d, which is projected for 2018.

Iran Oil Pension Fund Investment Co. (OPIC) and Oil Industries' Engineering & Construction Group OIEC are developing the project.

Azer is a joint field betüeen Iran Iraq, with 2.5 billion barrels of in-situ reserves and 16 percent recovery rate.

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