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Iran's North Azadegan field to be handed over to Arvandan Oil & Gas Company

Oil&Gas Materials 25 January 2021 07:01
Iran's North Azadegan field to be handed over to Arvandan Oil & Gas Company

BAKU, Azerbaijan, Jan. 25

By Elnur Baghishov – Trend:

The development of Iran-Iran joint North Azadegan oil field (called Majnoon in Iraq) will soon be handed over to Iran's Arvandan Oil and Gas Company (AOGC), Managing Director of the company Jahangir Pourhang told National Iranian Oil Company’s website, Trend reports.

The director noted that the field is currently being developed by the Iranian Petroleum Engineering and Development Company (PEDEC).

He added that so far, the Arvandan Oil and Gas Company has been commissioned to develop about 100 oil wells, a pumping station and related pipelines in Iran's South Azadegan oil field.

Pourhang stressed that if the NIOC decides, the development of the Yadavaran oil field should be handed over to the Arvandan Oil and Gas Company.

According to the director, the Arvandan Oil and Gas Company has produced 385 types of spare parts since the beginning of the current Iranian year (March 20, 2020). So, 200 billion rials (about $4.76 million) has been saved.

Iran's North Azadegan oil field is being developed by the Iranian Petroleum Engineering and Development Company (PEDEC). As a result of development, the extraction from this field will increase by daily 75,000 barrels in the first stage, and by 150,000 barrels in the second stage.

As reported, daily 55,000 barrels of oil are extracted from this field at present.

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