BAKU, Azerbaijan, Sept. 25
By Elnur Baghishov – Trend:
The experts will examine whether the Changuleh oil field in the Ilam Province (western Iran) economically viable, Iranian Oil Minister Javad Owji said, Trend reports citing the ministry.
The minister said that there is currently a disagreement between the experts of Plan and Budget Organization of Iran and the Ministry of Petroleum in connection with the Changuleh oil field. It is estimated that about $1.6-$2 billion is to be spent on excavation and development of the field.
Owji added that in any case, the development of the Changuleh oil field will be defended, because very good experience has been gained in the development of another Azar oil field in Iran. This experience may also apply to the Changuleh field.
"For example, the money spent on the oil field will be provided at the expense of revenues from the Azar oil field development plan over a maximum of the next two years, because, this oil field currently produces 60,000-70,000 barrels of crude oil per day," he said.
Reportedly, the Changuleh oil field is on the joint oil fields between Iran and Iraq. The field contains about 4.3 billion barrels of oil. At present, Iran extracts 15,000 barrels of oil per day from this field.
As reported, on March 1, 2021, the extraction from the Azar oil field was officially launched. So, 65,000 barrels of crude oil are currently extracted daily. A total of 1.4 billion euro has been spent on the plan to increase extraction from this field.
The preliminary extraction from the Azar oil field was launched in March 2017, and the crude oil extraction potential from this field was 30,000 barrels daily.
Some 20 wells with a total depth of 88 km were drilled at the field and 31.5 million barrels of crude oil were extracted from the field.
In total, 400 million barrels can be extracted from Iran's Azar oil field.
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