BAKU, Azerbaijan, May 25
By Elnur Baghishov – Trend:
The plan on the development of Iran-Iraq joint South Azadegan oil field (called Majnoon in Iraq) began to be implemented with the signing of a contract on drilling of 25 wells, Executive Director of the Petropars Operation and Management Company (POMC), Hamidreza Masoudi said, Trend reports citing the company’s website.
According to the director, contracts have been signed with Iran's Dana Energy Company for the drilling of 10 wells and with the Tadbir Drilling Development Company for the drilling of 15 wells within a short period of time.
Masoudi added that there are 206 oil wells in the South Azadegan field. Of these wells, the development of 35 wells was entrusted by the National Oil Company (NIOC) to the POMC.
“Earlier, the drilling of 10 wells was entrusted to the National Iranian Drilling Company (NIDC). Thus, work on the first plan for the development of this field has begun. According to the plan, a total of 56,000 meters of excavations will be carried out at the field,” he said.
The director noted that furthermore, there two more wells will be drilled in the Azadegan oil field and extraction from the field will increase by 18,000 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.