New estimates double Iran’s Yadavaran oilfield reserve to 34 billion barrels
Baku, Azerbaijan, Jan. 16
By Fatih Karimov - Trend:
New estimates double Iran's Yadavaran oilfield reserve, to 34 billion barrels, said Abdorreza Hajihosseinnejad, Iran's Petroleum Engineering and Development Company managing director.
Hajihosseinnejad said previous estimates indicated that the field's in-situ reserve was around 17 billion barrels, Iran's Shana news agency reported on Jan. 16.
Yadavaran oilfield is located in the southwestern Khuzestan Province bordering Iraq.
Upon the completion of the field's development plan, some 300,000 barrels of oil are expected to be pumped out on a daily basis.
Hadi Nazarpour, manager of Yadavaran oilfield development project, said on Jan. 7 that Iran is currently producing 50,000 barrels of oil per day from the field, while Iraq has not started production yet.
The first phase of the 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.
Iranian Oil Minister Bijan Namdar Zanganeh has said that the development of joint oil and gas fields is a national task. He said Iran should put priority on the development of joint oil and gas fields.
Iran has a number of joint fields with Qatar, Saudi Arabia, and Iraq.