Iran to increase oil production from Masjid Soleiman oil field

Azerbaijan , Baku, March 15 / Trend, A.Yusifzade /

Oil production from Iranian oldest oil field Masjid Soleiman will increase by 22,700 barrels a day early next Iranian year (starting March 21,2011) Shana reported quoting Iran's Petroleum Engineering and Development Company Managing director Naji Sa'douni as saying.

According to Sa'douni, at present over 2,300 barrels of crude oil a day is being produced from Masjid Soleiman oil field.

"By developing this oil field, Iran's capacity for oil production will increase to 25,000 barrels per day," Sa'douni said.

During a period of over 102 years when oil was produced from the field, more than 1.1 billion barrels of oil have been produced from Masjid Soleiman oil field. Based on studies carried out by National Iranian Oil Company (NIOC), a total of 5 billion barrels of oil can be produced from this field. The development project of the oil field started in summer of 2007. It was scheduled finish in late February, 2011.

Earlier Iranian deputy minister of petroleum for planning and supervision on hydrocarbon resources, Mohsen Khojastemehr, said that 2,400 oil wells will be drilled over the Fifth Five Year Development Plan lasting by 2016.

Khojastemehr said about $150 billion would be invested in the upstream sector over the Fifth Five Year Development Plan, of which $40 billion would be allocated for well drilling.

NIDC, as a subsidiary of NIOC in the upstream sector is in charge of 90 percent of drilling of oil and gas wells all over the county. The company was established in 1979.

Iran is OPEC's second-largest oil producer. It ranks second in terms of natural gas reserves after Russia in the world.

Azerbaijan increases production of construction materials
Azerbaijan increases production of construction materials
Hungarian-Uzbek investment projects to be implemented in food, agricultural sectors
Hungarian-Uzbek investment projects to be implemented in food, agricultural sectors
Number of construction enterprises, organizations in Uzbekistan up
Number of construction enterprises, organizations in Uzbekistan up
Loading Bars
Latest
683 COVID-19 cases among schoolchildren registered in Kyrgyzstan in 3 months
State-owned enterprises in Georgia lose about 130 mln GEL due to pandemic
Eurozone manufacturing sector expands at slower pace
Borrell highlights terrorist nature of Fakhrizadeh assassination
Kazakhstan invites Hungarian companies to jointly hold geological exploration
Bezos' Blue Origin taps former Pentagon, NASA officials for new advisory board
Ford announces 580 mln USD investment in Argentina
Cement price up in Uzbekistan due to decrease in production volumes
House seen backing bill that could block Chinese firms from U.S. securities markets
Lebanon central bank can keep subsidies for only two more months
Nigerian troops kill 5 gunmen, rescue nine hostages
Israeli archaeologists discover 2,000-year-old game dice
Tesla CEO says he is open to friendly deal with rival carmaker
Uzbekistan’s export of furniture products to Italy down
Iran increases exports from Gilan Province
Kazakhstan’s freight transportation operator opens tender to buy spares
FAA issues new first air certificate for Boeing 737 MAX since 2019
Number of Kyrgyzstan’s recoveries from COVID-19 reaches 64,711 with 560 new ones
Georgia to participate in discussion on Black Sea security at NATO Foreign Ministerial
Bahar Azadi gold coin price rising in Iran
Turkey to start COVID-19 vaccination drive after Dec. 11
COVID-related restriction may complicate procedures for car registration in Georgia
Euronews prepares reportage from Azerbaijani Aghdam liberated from occupation (VIDEO)
AP highlights aspects of Armenian Armed Forces withdrawal from districts of Azerbaijan
Israeli airline conducts 1st commercial passenger flight to UAE
Humiliating prisoners of war is not characteristic of Azerbaijani people - State Security Service
Quarantine regime to affect some investment projects of Kazakh national oil company
Equal number of Russian, Turkish personnel to work in center to control ceasefire in Nagorno-Karabakh
Georgian IT sector to arouse investor interest
Azerbaijani marine infantry personnel return to place of permanent deployment (PHOTO)
Delivery process of logistic support assets for peacekeeping contingent in Azerbaijan continues (PHOTO/VIDEO)
Georgian economy sees decrease due to COVID-19 lockdown
Return of Lachin district by Azerbaijan has not only important political, but also economic significance - Georgian expert
AP publishes article highlighting political success of Azerbaijan over Karabakh conflict
Foreign trade operations between Azerbaijan and Poland up
Georgia reveals details of Fourth Stage of Anti-Crisis Plan
Azerbaijani Culture Minister gives interview to France 24
Gradual liberalization of wholesale and retail electricity markets defined in Georgia
Import of aluminum by Azerbaijan up
Georgia approves volume of external debt planned for 2021
Development of well-functioning gas hub to diversify Georgia’s gas market
Uzbekistan, Belarus eye signing mutual tourism dev’t agreement
Demand for tobacco products in Azerbaijan may decline amid pandemic crisis
UAE based company to grow cannabis in Uzbekistan’s Syrdarya region
Fiat brand to electrify 60% of its models by end-2021
Azerbaijani Finance Ministry auctions state medium-term bonds
Georgian hazelnut-producing company faces with complex logistics
Iranian Energy Exchange announces products to be on sale on December 2
Number of phishing attacks on Azerbaijani web sites down
European culture to have new dimensions with Lachin's liberation - US expert
Enagas working on 12 projects in hydrogen developments
Spanish Enagas moving towards more sustainable energy model
Azerbaijan's mortgage fund puts up new bond tranche for auction
Georgia names number of beneficiaries of discount cards under agro-diesel promotion program
World Bank helps Georgia to purchase equipment in its fight against coronavirus
Italy decreases crude petroleum oil import from Kazakhstan year-on-year
Azerbaijan's minister of transport meets UK ambassador
Municipality of Italy's Milan adopts document in support of Azerbaijan
Ganja teenager won a bronze medal at the International Olympiad in Informatics!
Production at Azerbaijan’s Kursangi, Garabagli fields adjusted under OPEC+ deal
Georgia reveals Top-5 insurance companies by car insurance premiums
Israeli startups raised over $900m in November
Afrosiyob Palace hotel in Uzbekistan’s Samarkand region put up for auction
Absolute volume of mortgage loans in Azerbaijan grows in 10M2020
Kazakhstan creating e-maps of farmlands to support farmers
Projects linking Turkmenistan with South Caucasus may be of great interest to Belgium - ambassador
Georgia sees increase in persimmon and caraway seeds export
Uzbekistan meets criteria for participation in GSP+, EU commission says
Kazakhstan-based ArcelorMittal Temirtau JSC looks to expand export supplies
Azerbaijan increases production of construction materials
BP PETROLLERİ A.S. reduces aviation fuels exports
First VP Mehriban Aliyeva congratulates Azerbaijani people on liberation of Lachin (PHOTO)
Georgia sees increase in volume of overdue loans
Kazakhstan, Russia eye increasing mutual flights
SHELL & TURCAS PETROL A.S. reduces petroleum products’ sales in Turkey
UK retailer Debenhams to be liquidated
Pfizer-BioNTech seek EU emergency approval for COVID-19 vaccine, target December rollout
Iran reveals its COVID-19 data for December 1
Georgian Stock Exchange launches debut depositary notes
Ukraine to launch new flights to Azerbaijan
Employment in Iran's Zanjan Province increases
Uzbek-Korean JV announces tender for spare parts
Gas supply projects for Kazakh cities to help improve social conditions of citizens
Azerbaijanis in Switzerland protest against 'Le Temps' newspaper of succumbing to Armenian provocation
Wheat cultivation increases in Iran
OPEC+ likely to reach compromise to delay increase in production
Give city of Marseille to Armenians, change its name, create second state for them there - President Aliyev to French Senate
Baku Textile Factory to produce millions of face masks during December 2020
Total amount of transactions on Turkmen State Commodity Exchange for November 2020
Georgia reports 3,759 new cases of coronavirus
We are back Lachin! - Azerbaijani Foreign Ministry
EU supports Georgia in strengthening electricity market reforms
Pensions to increase in Georgia from January 1
Singapore Cooperation Enterprise to support e-commerce dev't in Kazakhstan
Azerbaijan confirms 4,426 new COVID-19 cases, 1,995 recoveries
Azerbaijan's volume of deposits in national currency edges up
Iranian gov't has one-month deadline to suspend implementation of NPT Additional Protocol
Current average cotton yield in Azerbaijan exceeds last year's - Agriculture Ministry
Import of defense industry products by Georgia from Turkey up
More private Turkmen companies manufacture dairy products
All news