Iran is not behind Iraq in tapping joint oilfields
Azerbaijan, Baku, Dec. 10 / Trend F.Milad/
Iran does not lag behind Iraq in developing joint oilfields, the managing director of the National Iranian Central Oilfields Company said.
Mehdi Fakour added that at present, eight drilling rigs are in operation in joint oilfields with Iraq and the output is satisfactory, the ISNA news agency reported.
Iran produces some 68,000 barrels per day of crude oil in four oilfields associated with Iraq (Naftshahr, Pardar Gharb, Dehloran and Aban), the report added.
Iran's Oil Minister Rostam Qasemi said in August that the Iranian government should consider plans to develop joint oilfields in the border areas with Iraq, the IRNA news agency reported.
The government should increase the budgets to develop joint oilfields, Qasemi added.
"The oil industry's infrastructure needs more than 500 trillion rials (about $50 billion) of investments to achieve Iran's 20-year economic perspective plan goals," Qasemi said.
"By the end of the fifth development plan (2015), the country's oil production must increase to 5.2 million barrels per day (bpd) and this should happen from the country's joint fields," the ISNA news agency quoted Qasemi as saying.