• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Iran Oil Fields Development Plan to Become Operational

Posted on: Monday, 25 July 2005, 15:01 CDT

Text of report in English by Iranian news agency IRNA web site

Tehran, 25 July: Sorush and Nowruz oil fields development plan, designed to produce 190,000 barrels of crude oil per day, will become operations this week.

"With Sorush and Nowruz oil fields development plan coming on stream, the output has so far been fluctuating between 190,000 and 210,000 bpd," Monday edition of English-language daily "Tehran Times" quoted Acting Managing-Director of the Oil Engineering and Development Company (OEDC) Ali-Akbar Vahidi Ale-Aqa as saying.

Referring to the investments made in the project, Ale-Aqa said that the cost of the project had earlier been put at about 799m dollars, but following some adjustments made to the project later on, the figure was raised to 806m dollars.

He further added, "The total investment made in the project will hit 1,610m dollars. Commenting on the project's progress, he stated that the Iranian side of the contract is ahead of the scheduled time and has already carried out 35.2 per cent of its undertakings.

"We are considering the gas injection into the oil field and if required so, the operation will be implemented by the Iranian contractors," the OEDC official further explained.

The contract for development of Sorush and Nowruz oil fields was awarded to Shell Development Iran BV in November 1999.

National Iranian Oil Company (NIOC) puts the oil reserves in Sorush and Nowruz oil fields at over eight billion barrels of heavy crude respectively. Sorush and Nowruz oil fields are located near the largest oil export terminals situated in Kharg Island.

Source: BBC Monitoring Middle East

More News in this Category