TEHRAN (PIN) – The second phase of Darkhoein oilfield with a daily 110 thousand barrel production capacity will be put into operation in the second half of current Iranian calendar year (September 23 to March 19, 2007).

The main aim behind second phase exploitation is to increase the current 50 thousand barrel output to 160 thousand barrels. The operations comprise the drilling of 15 development wells, three injection wells, and one to discharge extra water.
In the meantime, 210 million cubic feet of gas is injected per day, an exploitation unit is built to lift nominal capacity to 165 thousand barrels of oil a day, and all pipeline and wellhead equipment become operational.
According to the report, the second phase has so far made over 87 percent physical progress, including geological, drilling, and surface operations.
Darkhoein oilfield is located at 30km north of Khorramshahr and 100km south of Ahvaz, southern Iran.
Italian giant Eni and Iranian firm Naftiran Intertrade Co. (NICO) have signed buyback contracts to develop the first and second phases of the field.
The first phase of the project for development of Darkhoein oilfield was supposed to come on stream 34 months after conclusion of related contract, that was in May this year but it became operational one month later.
The oilfield is expected to yield 1.29 billion barrels of oil in a 30-year period. The field is expected to earn the country over 360 million dollars a year after completion of the first phase and 1.16 billion dollars a year after completion of its second phase.
The two-phased development project for production of 160,000 bpd is expected to cost 920 billion dollars in all.
Iran is expected to pay off the cost in six years, 60 percent of which to be paid through sale of oil. Three wells have already been drilled in the area in 1964, 1977, and 1992. The field has a reservoir of about 3.6 billion barrels of in place oil