BAKU, Azerbaijan, Jan. 31
By Elnur Baghishov – Trend:
Iran is currently extracting 42,000 barrels of crude oil daily from the Iraq-Iraq joint Azar oil field (called Badra in Iraq), the Executive Director of Sarvak Azar Engineering & Development Company Majid Habibi told IRNA, Trend reports.
In total, 50 million barrels of crude oil have been extracted from the field so far, according to Habibi.
The director added that the Azar oil field is one of the most complex oil fields in West Asia. Oil has been discovered in Iran over 100 years ago, but due to the lack of technology, it has not been possible to develop the Azar field for many years.
Habibi also pointed out that with the participation of Iranian companies, a consortium has been established to develop the Azar oil field, and the potential of startup companies is being used in this regard.
He said that the volume of hydrogen sulfide in the oil extracted from the Azar field is 65,000 PPM, which is 16 times more than in the products of the South Pars gas field. Due to the reason, crude oil of the Azar field is considered sour oil.
“At present, Sarvak Azar Engineering & Development Company is preparing a plan for 2nd phase of the Azar field. If this plan is approved by the National Iranian Oil Company (NIOC), there will be investment opportunities in the field,” he noted.
On March 1, 2021, the extraction from the Azar oil field was officially launched. 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.
In total, 400 million barrels can be extracted from Iran's Azar oil field.
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