Baku, Azerbaijan, Jan. 7
By Fatih Karimov - Trend:
Iran has taken the lead from Iraq in developing Yadavaran joint oilfield, Hadi Nazarpour, manager of Yadavaran oilfield development project said.
Nazarpour said Iran is currently producing 50,000 barrels of oil per day from the field, while Iraq has not started production yet, Iran's IRNA news agency reported on Jan. 7.
Iraq is still drilling wells at the oilfield, he noted.
The first phase of Yadavaran oilfield is expected to come on stream by September 2015, he said, adding that it is expected to produce 85,000 barrels of oil per day.
The oilfield's development plan is 94 percent complete, he stated. Iran has so far extracted 30 million barrels of oil from Yadavaran oilfield, he said.
Yadavaran oilfield is located in the southwestern Khuzestan Province bordering Iraq. The development project of the oilfield is expected to be implemented in three phases. Upon the completion of all phases, some 300,000 barrels of oil are expected to be pumped out on a daily basis.
Iranian Oil Minister Bijan Namdar Zanganeh has said that the development of joint oil and gas fields is a national task.
Iran has a number of joint fields with Qatar, Saudi Arabia, and Iraq.
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