EghtesadOnline: Operations to increase output from Sa’adatabad Oilfield, in southern Fars Province, started Wednesday, with $18.7 million investment, managing director of the Central Iranian Oil Fields Company said.
“The project aims at raising daily production from the field by 3,000 barrels and increasing feed for the nearby Shiraz Refinery,” the Oil Ministry news portal Shana quoted Ramin Hatami as saying.
He said domestic private companies are carrying out the project. An appraisal and development well are to be drilled and power generation facilities will to be installed near the field.
Sa’adatabad and Sarvestan oil fields supply feedstock to the Shiraz Refinery, Financial Tribune reported.
Sarvestan is located in 110 km southeast of Shiraz, capital of Fars, and Sa’adatabad is situated 20 km north of Sarvestan field.
Shiraz refinery, owned and operated by the Iranian Oil Refining and Distribution Company, has a daily capacity to refine 120,000 barrels of condensate and produce 12 million liters of gasoline daily conforming to Euro-5 standard.
It also produces liquefied petroleum gas, jet fuel, kerosene, solvents, diesel and sulfur.