BAKU, Azerbaijan, Feb. 1
By Elnur Baghishov – Trend:
The National Iranian Drilling Company (NIDC) will soon start excavations in the Sepehr and Jufair oil fields, said Majed Mousavi, the executor of the project related to the drilling of 6 new wells in the Sepehr and Jufair oil fields, Trend reports citing the NIDC’s website.
The official noted that the National Iranian Drilling Company will hand over the wells to the Iran’s Pasargad Energy Development Company (PEDC) within 24 months.
Mousavi added that the Fath 94 drilling rig has already been installed at the planned site and the new site is being prepared for the next rig.
The National Iranian Drilling Company and Pasargad Energy Development Company (PEDC) have signed a contract worth $2.43 million for the development of Iran's Sepehr and Jufair fields.
According to the contract, oil extraction from these fields will be increased by 110 million barrels daily. A total of 512 million barrels of crude oil will be extracted from these fields during the 20-year contract.