Domestic firms ink MOUs to conduct development study on Azadegan field

May 31, 2021 - 15:30

TEHRAN – National Iranian Oil Company (NIOC) has awarded the development study of Azadegan oil field to five domestic companies, Shana reported.

As reported, the memorandums of understanding (MOU) for Azadegan field studies were signed on Monday in a ceremony attended by Oil Minister Bijan Namdar Zanganeh, between the NIOC and five Iranian exploration and production companies.

The studies on the field will be conducted in three different sections, namely the southern, central, and northern areas.

The MOU for research on the northern part of the field was signed with Persia Oil And Gas Industry Development Company, the central part of the field was awarded to Petropars and PetroIran companies, while MOU for the studies on the southern part was signed with Pasargad Energy Development Company and Dana Energy Group.

Azadegan is Iran’s biggest joint oil field near the Iraqi border that covers an area of 1,500 square kilometers.

The field’s reservoir is estimated to contain 32 billion barrels of oil, and its development has so far been pursued in two sections, the Southern Azadegan and the Northern Azadegan.

Azadegan is one of the five major oilfields Iran shares with Iraq at the western part of Iran’s southwestern region of Karoun, known as West Karoun fields.

West Karoun holds great importance for the country’s oil industry since according to the latest studies, its in-situ deposit is estimated to be 67 billion barrels containing both light and heavy crude oils, and therefore it could have a big impact on Iran’s oil output increases in the future.

Having an estimated 67 billion barrels of in-situ oil, West Karoun fields definitely deserve the spotlight which has been put on them recently.

EF/MA

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