Rate : 1927 #
Print Date :
Tuesday, February 2, 2010
Azadegan oilfield boosts output
Tehran Times Economic Desk
TEHRAN – The production capacity at Azadegan oilfield, southwestern Iran, has increased by 13,000 barrels per day to reach 40,000 bpd, the Islamic Republic of Iran Broadcasting reported.
Two wells are being drilled in the oilfield which will increase the daily output to 45,000 bpd, the report added.
The Azadegan oilfield is one of the biggest oilfields that have been discovered in the world in the past thirty years. The field is located 80 km west of Ahvaz close to the Iraqi border. The field holds 33.2 billion barrels of in-situ oil deposit and 5.2 billion barrels of recoverable reserves.
Iran and China signed a 1.76-billion-U.S. dollar deal in January 2009 for the initial development of Iran’s North Azadegan oilfield. The deal was signed between the China National Petroleum Corp. and the National Iranian Oil Co.
The North Azadegan oilfield, located in Iran’s western province of Khuzestan, has estimated reserves of 6 billion barrels and can produce 75,000 barrels per day for 25 years