BAKU, Azerbaijan, May 31
By Elnur Baghishov – Trend:
Iran's current extraction potential from Iran-Iraq joint Azadegan oil field (called Majnoon in Iraq) is 225,000 barrels daily, Deputy Director of National Iranian Oil Company (NIOC) Reza Dehghan said, Trend reports referring to the company’s website.
He made the remark today on May 31, in an event dedicated to the signing of contracts to conduct exploration on development of the Azadegan oil field.
The deputy director said that the daily crude oil extraction potential from the north part of the field is 75,000 barrels, while from the south part is 150,000 barrels at present.
Dehghan added that the Azadegan oil field is planned to be divided into three parts. Thus, Iranian companies will conduct exploration on the north, central and south parts of the field.
“During the exploration of these fields, foreign companies can enter the field development process at any time,” he said.
As reported, Iran's Azadegan oil field is located 80 km southwest of Ahvaz city in the Khuzestan Province (southwestern Iran). It is estimated that the field contains about 32 billion barrels of oil. In Iran, this field is usually divided into two parts - North Azadegan and South Azadegan.
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.
Reportedly, daily 55,000 barrels of oil are extracted from this field at present.
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 the Azadegan oil field.