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Oil production in Iran's Azari oilfield exceeds 20M barrels

Oil&Gas Materials 16 May 2019 15:37 (UTC +04:00)

Baku, Azerbaijan, May 16

By Elnur Baghishov – Trend:

The total oil production of Azar oil field (jointly operated with Iraq) in Iran's Ilam Province has exceeded 20 million barrels, Vahid Hosseini, Azar Oilfield Project Manager at Oil Industries' Commissioning and Operation Company (OICO), told ISNA, Trend reports.

According to Hosseini, the milestone was achieved on May 9, 2019. He also reported that the annual production of the field has reached 360,000 barrels of oil.

The Azar oil field is one of the oil fields in the country jointly operated by Iran and Iraq. Iran exploits eight oil wells in the field.

In March 2017, the first production from the oil field made up 15,000 barrels per day and reached 30,000 barrels per day in May of the same year. With the number of oil wells reaching 11, the daily production rate will reach 65 barrels of oil and 78 million cubic meters of gas.

The oil reserves of the Azar oil field are estimated to stand at 2.5 billion barrels, and it is estimated that oil production will reach 400 million barrels.

OIEC and Ahdaf are the investors of this project, which is owned by the National Iranian Oil Company (NIOC).

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