Azerbaijan, Baku, May 6 /Trend M. Moezzi/
The China Petroleum and Chemical Corporation (Sinopec), has succeeded in making Iran's Yadavaran field operational according to an early production plan.
Yadavaran is producing 16,000 barrels of oil a day and that will increase to 20,000 barrels in the next couple of weeks, said Naji Saadouni who heads the Petroleum Engineering & Development Company (PEDEC).
The Yadavaran field is 70 kilometers southwest of the city of Ahwaz in Iran's Khuzestan Province. It sits on Iran's border with Iraq and is shared by the two neighbors.
There are three phases of development planned for Yadavaran. The first phase is to produce 85,000 barrels of oil a day, the second phase will make 180,000 barrels of oil a day available and the third phase will give Iran 300,000 barrels of heavy and light crude oil.
The $2 billion contract to develop Yadavaran's first phase was signed by PEDEC and Sinopec in 2007.
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