Iran plans to boost output at joint oilfield with Iraq
Azerbaijan, Baku, Oct.5/ Trend F.Karimov/
Iran plans to increase output at the South Yaran oilfield, which is shared with Iraq, IRNA quoted the development project manager Homayoun Kazemeini as saying.
The plan is aimed to extract 50,000-60,000 barrels of oil per day from the field, he said.
The oilfield was projected to yield 35,000 barrels per day, but new studies showed that the field has the capacity to yield 50,000-60,000 bpd, he said.
The South Yaran oilfield holds around 1.1 billion barrels of crude oil.
In May, IRNA quoted Nader Qorbani, managing Director of Petroleum Engineering and Development Company, as saying that Iran's oil production capacity will rise by 90,000 barrels per day as the South and the North Yaran oilfields will come on stream by the next two years.
A deal worth €350 million has been concluded with the national Iranian Drilling Company for drilling 22 wells in the oilfield.
The North Yaran oilfield will also be developed in the buy-back method, he noted.
OPEC's report which was published on August 1 compiled based on data provided by Iran (based on direct communication), said that Iran exported some 2.1 million barrels of crude oil and gas condensates in 2012.
In OPEC monthly, which was published on August 10, Iran also put its July crude oil output at 3.721 million barrels.
Meanwhile, OPEC has estimated - based on secondary sources - that the figure was 2.684 million barrels.
Iran's total crude oil refining capacity is about 1.7 million barrels per day. It means that the domestic consumption volume is about 2 million barrels less than the total production.