Baku, Azerbaijan, Mar. 3
By Rahim Zamanov - Trend:
An unnamed source with Iran's Oil Ministry said the country's oil production at the joint Hengam oil field in the Persian Gulf has been reduced by7000 barrels per day, Iran's Fars News Agency reported on Mar. 3.
"By not drilling new wells and not fixing problems of the existing wells are the main reasons behind the production cut," he said.
He put the current production rate at 21,000 - 22,000 barrels per day.
Currently Iran's output at the joint Hengam oilfield is approximately twice that ofOman's share.
The Hengam oil field discovered in 1975 contains almost 600 million barrels and is located between Iran and Oman in the Strait of Hormuz.
Iran shares 18 oil and gas fields with neighbouring countries, including Oman in the strategic oil-rich region of Persian Gulf.
Iran is OPEC's second-largest producer after Saudi Arabia. In 2009, Iran's crude production stood approximately at 3.8 million bpd.
Iran has 15 joint oilfields with its Arab neighbours. The joint oilfields' production accounts for less than 10 per cent of Iran's current total oil output.
Edited by S.M.