Iran pumps up oil from joint oil field with Iraq
Azerbaijan, Baku, June 12/Trend/
Iran started early oil production of Yadavar joint oil field by cooperation of China and surpassed Iraq in development of joint filed, Mehr News Agency reported quoting Deputy Oil Minister Mohsen Khojasteh as saying.
"Iran applied 1.5 billion exploratory investments for construction of 28 hydrocarbon common units with Iraq," he said.
Iran had eight rounds of talks since 2006 with Iraq to review the development of joint oil field and new round of talks will start in near future in Baghdad. It's predicted that activities in upstream and downstream sectors of joint oil and gas fields will be discussed in next meeting.
Iran has 5 common oil fields with Iraq.
Iran's oil production from joint field continues by the end of current solar year (started on March 20, 2011) with production capacity of 20,000 barrel of oil per day, he said.
"A total of 59 billion barrels of oil are joint with Iraq reservoirs currently, we are producing our own share on international frame work," he noted.