BAKU, Azerbaijan, July 1. Research and exploration into the Bande-Kerhe oil field in Iran's Khuzestan Province, in the country's southwestern corner, goes on, the executive director of Iranian oil and gas producing company Arvandan Abdollah Ozari Ahvazi said, Trend reports.
According to him, the National Oil Company of Iran entrusted the development of the Bande-Kerhe oil field to the Arvandan Oil and Gas Production Company. Within this framework, Mapna Company, under the leadership of Arvandan Oil and Gas Production Company, continues the process of information acquisition about the field and research.
"It is projected that $435 million will be invested to develop the Bande Kerhe oil field in Phase 1, and the field will produce 18,000 barrels of crude oil daily. Besides, 2,500 people will be employed in the development of the field in the first phase," he said.
Circa one billion barrels of crude oil are believed to be present in the field, according to the official, and three exploratory wells have been dug thus far.
To note, the Bande Kerhe oil field is located in Iran's Khuzistan Province. This field was discovered in 2007. The National Oil Company of Iran, the National Development Fund of Iran, and Mapna Oil and Gas Company signed a memorandum of understanding on May 10, 2024, to develop the Bande Kerhe oil field.
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