BAKU, Azerbaijan, March 13
By Elnur Baghishov – Trend:
A number of steps are being taken for the development of the Iran-Iraq joint Changuleh oil field, including the preparation of tender documents, as well as, the conclusion of discussions in this regard, Executive Director of Iran’s Petroleum Engineering and Development Company (PEDEC) Abouzar Sharifi said, Trend reports citing the company’s website.
According to Sharifi, at the same time, discussions are underway with investors on the development of the oil field.
The director added that about $300 million is needed to develop the Changuleh oil field in the Ilam Province (western Iran).
"Thus, a contract will be signed with the contractor for the development of the field in the next Iranian year (March 21, 2022 through March 20, 2023)," he said.
Sharifi noted that with the development of the Changuleh oil field, Iran’s extraction capacity from the oil field will increase by 15,000 barrels daily.
The Changuleh oil field is a joint oil field between Iran and Iraq. Reportedly, the field contains about 4.3 billion barrels of oil. Iran currently extracts 15,000 barrels of oil from this field.
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