Baku, Azerbaijan, Sept. 5
By Fatih Karimov - Trend:
Early production at Iran's North Yaran oilfield in the current Iranian fiscal year is dismissed, said Arash Baqerzadeh, the official in charge of the oilfield's development plan.
Based on a timetable, the oilfield will start producing 30,000 barrels of oil per day in spring 2016, Iran's Tasnim news agency quoted Baqerzadeh as saying on September 5.
The current Iranian fiscal year started on March 21.
The oilfield's development plan is complete by 64 percent, he said, adding that drilling operations will be terminated by mid-December.
North Yaran oilfield is located in Khuzestan Province, close to Iran-Iraq border. The field is estimated to hold 998 million 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.