BAKU, Azerbaijan, Dec. 30
By Elnur Baghishov - Trend:
Iranian Offshore Oil Company (IOOC) will implement projects to increase the oil production by about 85,000 barrels daily, General Director of National Iranian Oil Company Alireza Salmanzadeh said, Trend reports referring to the company’s website.
Over 110 trillion rials (about $2.6 billion) have been allocated for implementation of the company's projects on increasing production, Salmanzadeh said.
Under the contract worth 12 trillion rials (about $285 million), a local company conducts works on drilling 12 new wells as well as on repairing wells at the Sivand and Isfand fields in the Persian Gulf, the director general said.
According to this contract, 60 percent of equipment used in drilling operation must be provided by local producers. It is an effective step towards utilizing the potential of domestic producers in the development of offshore oil fields, Salmanzadeh said.
By the end of the project, daily production will increase by 7,200 barrels at the Sivand field and by about 8,800 barrels per day in the Isfand field, bringing up the total growth of the production of oil to 16,000 barrels a day.
Development of the Resalet, Rashadat and Foruzan fields of Offshore Oil will be carried out by three contractor companies with the funds in the amount of 100 trillion rials ($2.38 billion) Salmanzadeh said.
Approximately 70,000 barrels of oil will be added to the offshore oil company daily production through drilling, repair and improvement at 40 wells, installation of two platforms, installation of five offshore platforms, and pipeline construction, the director said.
Iranian Offshore Oil Company produces about 11,000 barrels a day from the Sivand field, 60,000 barrels from the Isfand field, 20,000 barrels from the Rashadat oil field, 46,400 barrels from the Resalet oil field and 40,000 barrels from the Foruzan oil field, Salmanzadeh said.