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EghtesadOnline: Crude oil production from the giant South Azadegan field near the Iraqi border has increased by 22,000 barrels per day.

According to the National Iranian Oil Company's news portal, the field's current output stands at 83,000 bpd. Reportedly, operations to extract crude from the field started in 2010 after drilling 21 wells.

In addition, 33 wells have been drilled in the giant field since the beginning of the present fiscal in March, boosting production by 22,000 bpd. The added output is transferred to Jofeir processing facility in Khuzestan Province.

South Azadegan field's development project is being undertaken with the help of Iranian firms and internal financial resources, Financial Tribune reported.

Nonetheless, the field's second phase will be developed via a tender within the framework of Iran Petroleum Contract, the country's new model of contracts for oil and gas projects.

According to Oil Minister Bijan Namdar Zanganeh, multinationals, including Italian oil and gas firm Eni, China's CNPC, Royal Dutch Shell, France's Total, Japan's Inpex and Malaysia's Petronas, have submitted their master development plans to expand Azadegan Oilfield.    

 

Iran oil South Azadegan field South Azadegan Oilfield