Iran to begin increased extraction from Forouzan oil field

Oil&Gas Materials 30 June 2021 13:14 (UTC +04:00)
Iran to begin increased extraction from Forouzan oil field

BAKU, Azerbaijan, June 30

By Elnur Baghishov – Trend:

Iran will soon begin drilling work in order to increase extraction from Iran- Saudi Arabia joint Forouzan oil field (called Marjan in Saudi Arabia), Executive Director of the Petropars Operation and Management Company (POMC), Hamidreza Masoudi said, Trend reports citing the company’s website.

The director noted that the drilling rig is currently being relocated from the 14th Phase of the South Pars gas field to the F18 platform of the Forouzan oil field.

Masoudi added that 26 wells will be drilled in the Forouzan field under the agreement, including 12 new wells, 11 repair wells and 3 re-entry wells.

“It is planned to drill seven wells on the F18 platform,” he said.

According to Masoudi, extraction from the field will increase by 12,000 barrels per day with the launch of these wells.

As reported, Iran's Offshore Oil Company (IOOC), Petropars Company, and Mobin Saze Gostar Persian Gulf Company have signed a contract on the development of the Forouzan oil field.

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.

The field contains about 2.3 billion barrels of oil. Iran reportedly extracts about 40,000 barrels of oil daily from the field at present. Iran has 200 oil wells in this field.