Iran to produce 30,000 bpd from oilfield joint with Iraq by March 2016
Baku, Azerbaijan, Nov.18
By Fatih Karimov - Trend:
Iran's North Yaran oilfield, which is associated with Iraq, will produce 30,000 barrels of oil per day by March 2016.
Arash Baqerzadeh, manager of the oilfield's development project, said three wells are currently operating at the oilfield, Iran's Shana news agency reported on November 18.
The first phase of the development project is now complete by 30 percent, he added.
North Yaran Oilfield is located in Khuzestan province 130 kilometers west of Ahvaz, along Iran-Iraq border.
The managing director of Iran's Petroleum Engineering and Development Company (PEDEC), Abdolreza Haji Hosseinnejad, said on June 14 that a total of 19 wells are expected to be drilled at the oil field, Iran's IRIB News Agency reported.
"Currently the field's output capacity stands at 1,500 barrels of oil per day," he said.
Iran's oil production capacity will rise by 90,000 barrels per day once the South and the North Yaran oilfields come on stream.