June 25, 2008

Iran to Boost Azadegan Oilfield Output to 170,000 Bpd

Iran to boost Azadegan oilfield output to 170,000 bpd

TEHRAN, June 23 (Xinhua) -- National Iranian Oil Company (NIOC) board of directors approved a plan to raise the daily production of Azadegan oilfield from 20,000 barrels to 170,000 barrels, local media reported on Monday.

"First phase of Azadegan oil field's early production plan has been completed and at present the field's average production capacity is about 15,000-20,000 barrels per day," Gholam Reza Hassan Beiglou, managing director of National Iranian South Oil Company (NISCO) responsible for the oil field exploitation, was quoted as saying on Sunday.

"Oil exploitation from six wells, repairing the equipment, completion of the wells, laying pipelines to the length of 190 kilometers, and installing two oil and gas separators are among the plan's technical operations," he said.

Azadegan oil field is one of the NIOC recent discoveries and constitutes one of the biggest oil fields discovered in the world in the past 30 years. The field is located 80 km west of Ahvaz, capital of Iran's southwestern province of Khuzestan.

The field holds 33.2 billion barrels of oil in place and 5.2 billion barrels of recoverable reserves. The first exploration well was drilled at the field in 1976, but its discovery was finalized after drilling the second well in 1999.

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