...

Iran’s Petropars Operation and Management Company signed contract on Forouzan field

Oil&Gas Materials 25 January 2021 15:05
Iran’s Petropars Operation and Management Company signed contract on Forouzan field

BAKU, Azerbaijan, Jan. 25

By Elnur Baghishov – Trend:

A contract was signed between Iran’s Petropars Operation and Management Company (POMC) and Luleh Gostar of Esfarayen Company (LGE) on the production of casing pipes for Iran- Saudi Arabia joint Forouzan oil field (called Marjan in Saudi Arabia), Trend reports citing Shana news agency.

Following the signing of the contract, the Executive Director of POMC Hamidreza Masudi said that the value of the contract amounts to 6.5 million euros. The Luleh Gostar of Esfarayen Company will produce 54 km length of pipes related to the wells in the Foruzan field.

Masoudi added that according to the plan, these pipes will be produced in about 24 months.

“With the installation of these pipes, the extraction from the Forouzan oil field will increase by about 10,000 barrels daily,” he said.

The Forouzan oil field is located in the Persian Gulf, 100 km southeast of Kharg Island in the Bushehr Province (southern Iran). This oil field was discovered in 1966.

As reported, the field contains about 2.3 billion barrels of oil. Iran extracts about 40,000 barrels of oil daily from the field at present.

Tags:
Latest

Latest