BAKU, Azerbaijan, June 11. Drilling of 24 oil wells at Yadavaran oil field (Sindbad in Iraq), a joint oil field of Iran and Iraq, will start in the coming days, the statement of Iran's National Oil Company said, Trend reports.
Meanwhile, an agreement was signed on May 11, 2024, between Iran's Yadavaran Oil Fields Development and Engineering Company, National Mining Company, Qeshm Oil and Energy Development Company, and Khatam al-Anbiya Construction Headquarters.
The value of the contract for the development of the Yadavaran field is $350 million. Earthworks at the field will be completed within 24 months.
Furthermore, the production of the Yadavaran field is expected to increase by 42,000 barrels.
To note, the Yadavaran oil field, located 60 km southwest of the city of Ahvaz, Khuzestan province, on the Iran-Iraq border, has oil reserves of 6.3 billion barrels. The production of 6.2 billion barrels is reportedly possible. The field's first phase has 49 wells producing more than 110,000 barrels of oil daily.
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