Iran to commission 2 new platforms at joint oilfield with Saudi Arabia
Baku, Azerbaijan, Apr.5
By Fatih Karimov - Trend:
Iran will commission two new platforms at Forouzan oilfield, which is shared with Saudi Arabia in the Gulf.
CEO of the Iranian Offshore Oil Company Saeid Hafezi said that the new platforms will be commissioned in the current Iranian fiscal year, which began on March 21, Iran's Shana news agency reported on April 5.
Moreover, the S1 platform at Lavan oilfield and the A20 and A21 platforms at Abouzar oilfield will be commissioned, he added.
The Iranian Offshore Engineering and Construction Company is tasked with building the platforms for Forouzan oilfield.
The Forouzan oil field is located 100 kilometers southwest of Kharg Island. It was discovered in 1966 with estimated in-place reserve of 2.309 billion barrels of crude oil. The field is known as Marjan in Saudi Arabia.
Ebrahim Delavaran Shiraz, the project manager of the oilfield development plan, said in Nov. 2014 that Iran will double its output at the Forouzan oilfield in the Iranian calendar year of 1395 (to start on March 21, 2016).
"The Forouzan oilfield production is expected to reach 10,000 barrels per day in the near future," he said, adding that once the platforms become operational, the field's output will be doubled.
The development of the oilfield aims to increase its gas output to 250 million cubic feet and extract more than 300 million barrels of crude oil in the next 25 years.
Extraction of oil from the field started in the early 1970s and the field produced about 550 million barrels of oil by the end of 2002.
The field experienced its peak production in late 1978 when it produced 180,000 barrels of crude oil per day.
Iran shares oil and gas fields with most of its neighbors in the Gulf region, as well as with Turkmenistan in the Caspian Sea.