BAKU, Azerbaijan, May 16. The National Iranian Oil Company (NIOC) aims to complete the development of the Iran-Iraq joint Azadegan oil field (called Majnoon in Iraq), director of the integrated planning at the National Iranian Oil Company (NIOC) Karim Zobeidi told reporters, Trend reports citing Shana News Agency.
He made the remark at the 26th International Oil, Gas, Refining and Petrochemical Exhibition in Tehran on May 15, 2022.
“According to the program, Iran's extraction from the Azadegan oil field should increase to 570,000 barrels per day,” Zobeidi noted.
The director added that by the end of the current Iranian year (March 21, 2022 through March 20, 2023), the first stage of development of this field will be completed, resulting in an increase in extraction of 220,000 barrels per day.
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.
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