Azerbaijan, Baku, Aug.24/ Trend F.Milad/
Five wells are being drilled at the Darkhovin oilfield as the third phase of its development plan began, the managing director of Arvandan Oil and Gas Company said.
Salbali Karimi told the Shana News Agency that the wells are aimed to yield 14,000 barrels per day of oil.
So far, 28 wells have been drilled at the oilfield in the frame of the first two phases of development plan to produce 160,000 barrels of oil per day, he noted.
In August 2011, the National Iranian Oil Company and a consortium of Iranian companies signed a $1.6 billion contract to develop the third phase of the Darkhovin oilfield.
The project is aimed to daily produce 71,000 barrels of crude oil.
The Darkhovin oilfield's in-place oil reserve is estimated at over five billion barrels.