BAKU, Azerbaijan, Jan. 6
By Elnur Baghishov – Trend:
The extraction from the Iran-Iraq Azar joint oil field (called Badra in Iraq) began on December 14, with the extraction of daily 65,000 barrels of crude oil, said Keyvan Yarahmadi, Executor for Petroleum Engineering and Development Company’s (PEDEC) plan on development of the Azar oil field, Trend reports referring to the company’s website.
According to Yarahmadi, the extraction tests were carried out on the Azar oil field for 21 days a month.
The official noted that necessary coordination has been conducted with the National Iranian Oil Company (NIOC) and the Iranian Central Oil Fields Company (ICOFC) in connection with the extraction.
As reported, so far, more than 30 million barrels of oil have been extracted from Iran's Azar field, as part of extraordinary extraction. In addition, 9 wells were drilled in the field within part of extraordinary extraction, and a 129-kilometer-long of 15-inch pipeline was laid.
The Azar oil field is one of the joint oil fields of Iran and Iraq. The Azar oil field contains 2.5 billion barrels of oil reserves and about 400 million barrels of it can be extracted. Iran extracts oil from 8 wells in this field. Iran's extraction from the Azar oil field was daily 15,000 barrels in March 2017 and this extraction has reached daily 30,000 barrels in May 2017.
As reported, 65,000 barrels of oil and 78 million cubic meters of gas will be extracted from the field per day with the increasing of the number of extraction wells to 11.
Iran has 125 oil fields and 59 gas fields. The country's total hydrocarbon reserves are estimated at 836 billion barrels. With available technology and equipment, Iran can extract 239 billion barrels. Thus, 29 percent of the country's hydrocarbon reserves are recoverable, while 71 percent remain underground.