BAKU, Azerbaijan, May 24
By Elnur Baghishov – Trend:
A contract has been signed between the Petropars Operation and Management Company (POMC) and Dana Energy Company on the development of the Iran-Iraq joint South Azadegan oil field (called Majnoon in Iraq), Executive Director of the POMC, Hamidreza Masoudi said, Trend reports citing the company’s website.
Masoudi said that 10 new wells will be drilled in the field over 16 months under the contract.
The director added that 9 wells will be drilled for extraction and 1 well for waste. After the launch of 9 wells, the extraction from the South Azadegan oil field will increase by more than 10,000 barrels daily.
As reported, the South Azadegan oil field is located in an area of about 440 square kilometers, 80 km west of Ahvaz city. At present, crude oil extraction from Iran's South Azadegan oil field is 85,000 barrels daily. The field contains 28.2 billion barrels of crude oil, of which 1.6 billion barrels can be extracted.
According to the first plan for the development of this field, daily 320,000 barrels of crude oil and 197 million cubic feet (about 7 million cubic meters) of natural gas will be extracted from the field.
According to the second plan, daily 280,000 barrels of crude oil will be extracted from the field. In total, 600,000 barrels of crude oil daily will be extracted from Azadegan oil field.