Tehran, Iran, November 13
By Mehdi Sepahvand – Trend:
The oil fields in Iran’s West Karun are going to experience an output boost of 230,000 barrels per day by March, according to Deputy Oil Minister Ali Kardor.
The fields are being developed with a budget of $6.1 billion, he told Mehr news agency November 13.
Iran’s crude output currently stands at 4 mbpd, which should improve to 4.8 according to the Sixth Development Plan that starts March and will run for five years.
The country plans to tap fields that it shares with other countries first. The West Karun fields are shared with Iraq.
The West Karun covers the North and South Azadegan, Yadavaran, North and South Yaran, Darkhovein, Azar, and Changuleh oil fields.
Iran is extracting 260,000 bpd out of these fields at the present.
Studies have shown that West Karun holds 33 billion barrels of oil.
According to Kardor, by increasing its restoration factor by 1 percent, Iran would be able to add 370 million barrels to its exploitable reserves in West Karun.