Iran to develop three oil fields
Tehran, Iran, July 8
Iran to develop three oil fields with IPC model that will be run by the Petroleum Engineering and Development Company (PEDEC), said the head of PEDEC engineering.
"The development of Sepehr and Jafir oilfield alongside Aban and Western Paydar oil field is currently on the agenda of PEDEC, while it is expected that Yaran oilfield development will be announced in near future," said Mohammad reza Assadi, Trend reports citing ILNA.
"The technical issues in the integrated development plan of North Yaran and South Yaran oilfield have been completed and it's expected that the development contract will be signed and necessary license will be issued for PEDEC," he said.
"The development contract for Sepehr and Jafir oilfield has been signed between the National Iranian Oil Company and Pasargad Energy Development Company," he added.
"The process of issuing permit for development of Aban and Western Paydar oilfield has been completed, and the development of contract that has been signed by a Russian company is at the primary stage," he noted.
"The development of South Yaran and North Yaran oilfield will be operated in west of Karun river and will be executed by the Petroleum Engineering and Development Company," he added.
"The company is responsible for engineering management and coordination with the National Iranian Oil Company to manage the volume of oil in the field. Its current production is 350,000 barrels of oil per day with outlook to increase to one million barrels," he said