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Sorush, Noruz Oilfields Development Plan to Become Operational

Posted on: Tuesday, 26 July 2005, 15:01 CDT

According to "Tehran Times", Sorush and Noruz oil fields development plan, aimed at producing 190,000 barrels per day (bpd) of crude oil, will become operational this week. Referring to the investments made in the project, he said that the cost of the project had earlier been put at about 799 million dollars, but following some adjustments made to the project later on, the figure was raised to 806 million 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 percent of its undertakings. The contract for development of Sorush and Noruz oilfields was awarded to Shell Development Iran BV in November 1999. National Iranian Oil Company (NIOC) puts the oil reserves in Sorush and Noruz oilfields at over 8 billion barrels and 2 billion barrels of heavy crude respectively.

Source: Info-Prod Research (Middle East)

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