BAKU, Azerbaijan, Dec. 16
By Elnur Baghishov – Trend:
A plan is being prepared to increase oil extraction from the Fahlian reservoir of the Darkhovin oil field in the Khuzestan Province (southwestern Iran) to 160,000 barrels per day, Trend reports citing National Iranian Oil Company’s information portal.
According to report, the plan will be implemented with an investment of about $460 million over 26 months and will result in a 2.1-percent increase in extraction rate from the field.
“Thus, the revenues of Iran from this field will be about $3.1 billion, if 1 barrel of light crude oil equals to $50,” the report said.
According to the report, oil is currently extracted only from the Fahlian reservoir in the Darkhovin field. This reservoir accounts for about 75 percent of the total crude oil reserves of the field.
In addition, a plan has been prepared for the oil extraction from the Ilam and Sarvak reservoirs of the Darkhovin field. So, it is planned to extract an average of 25,000 barrels of crude oil per day with the installation of equipment in these reservoirs.
About $4.5 billion in net revenues is estimated to be received, following the extraction under the plan, which will be implemented over 36 months at a cost of about $1.1 billion.
Iran's Darkhovin field contains more than 6 billion barrels of oil, of which 1.54 billion barrels are extractable. At present, Iran extracts about 130,000 barrels of oil from this field per day.