BAKU, Azerbaijan, April 18
By Elnur Baghishov - Trend
Arvandan Oil and Gas Company operating in Khuzestan province in southwestern Iran continued its activities in six areas to maintain oil and gas production in the last Iranian year (from March 21, 2019 through March 20, 2020), said Managing Director of the company Jahangir Pourhang, Trend reports citing the company website.
According to Pourhang, in the field of extraction from the fields west of the Karun River, work began in the 3rd month of last Iranian year (May 22-June 21, 2019), in close cooperation with the Iranian Petroleum Engineering and Development Company (PEDEC).
Pourhang added that in the first phase of the South Azadegan oil field, 99 wells were drilled in the 8th month of last Iranian year (October 23-November 21, 2019) and were officially handed over to the Arvandan Oil and Gas Company.
The official said that five wells were drilled and repaired at the Darkhovin oil field in the last Iranian year. Excavation of these wells began in 2018. With the completion of drilling, the company's oil production increased by about 20,000 barrels per day.
"Last Iranian year, an agreement was signed to collect 50 million cubic meters of flare gas from oil fields west of Karun river. At present, the necessary work is being carried out in cooperation with PEDEC," the managing director said.
Pourhang noted that an agreement on the development of the Sepehr and Jufair fields was signed last Iranian year. Currently, the work is underway on these fields.
Arvandan Oil and Gas Company, which operates under the Iranian National Petroleum Company, can produce 640,000 barrels of oil from wells controlled by the company and 7.64 million cubic meters (270 million cubic feet) of gas per day.
Presently, the company extracts 140,000 barrels of oil a day from South Azadegan oil field.
In accordance with the field development project, 320,000 barrels of crude oil and 5.5 million cubic meters (197 million cubic feet) of natural gas will be extracted daily at phase 1 till March 21, 2021.
After the operations are over at the phase 2, some 280,000 barrels of crude oil will be extracted at this phase.
A total of 600,000 barrels of crude oil are expected to be extracted from these phases daily.
Sepehr field's reserves are estimated at 5.4 billion barrels of oil. Its potential production is 450 million barrels. The development and commissioning of this field were transferred to the Iranian Pasargad Energy Development company.
Jufair oil field's reserves are estimated at 4.4 billion barrels of oil. Its potential production reaches 390 million barrels. Some 50,000 barrels of oil are extracted from this field daily. The field development project also was transferred to the Pasargad Energy Development company.