Iran drills over 34,000 meters of wells at oilfield joint with Iraq
Baku, Azerbaijan, Apr.28
By Fatih Karimov - Trend: The National Iranian Drilling Company (NIDC) drilled over 34,000 meters of wells at South Yaran oilfield, which is associated with Iraq, said Nasrollah Abbasi, an official with NIDC.
The fifth drilling rig has been put into operation at the oilfield, Iran 's Shana news agency quoted Abbasi as saying April 28.
To expedite drilling of 22 wells at the oilfield, the number of drilling rigs will be increased, he added.
NIDC is implementing the project in the form of an EPDS (Engineering, Procurement, Drilling, Services) contract, he noted.
Yaran oilfield is estimated to hold 1.1 billion barrels of in-situ crude oil.
Yaran is one of the Iranian oilfields located in the oil-rich West Karoun region in Southwestern Iran.
West Karoun oilfields are currently producing 300,000 barrels per day.
The production capacity is scheduled to reach 1.4 million barrels per day by 2021.
Yadavaran, North Azadegan, South Azadegan, North Yaran, and South Yaran oilfields are dubbed West Karoun oilfields.
The Economy Council of Iran has approved the development of West Karoun oilfields as the largest joint oilfields development plan. Investment of some $15.2 billion is projected for the plan over the course of four years.
Edited by CN