Iran plans to increase oil output in West Karoun oilfields to 1.0M bpd
(MENAFN) Abouzar Sharifi, head of Iran's petroleum Engineering and Development Company (PEDEC), announced plans to increase the oil output in the West Karoun region to 1.0 million barrels per day (bpd), as reported by an Iranian news agency. Sharifi explained that all projects in the West Karoun fields have been entrusted to competent contractors. By financing and executing the subsequent phases of development in these fields, the company aims to gradually reach a daily production target of one million barrels.
Over the past three years, 67 wells have been brought online in the South Azadegan joint field, situated in the West Karoun region. This development has boosted the production capacity of the field by 70,000 barrels per day, bringing its current output to 140,000 barrels per day, despite the natural decline due to the reservoir's specific conditions. Sharifi emphasized the significant progress made in the South Azadegan field, which has been critical in enhancing the region's overall production capacity.
The West Karoun oil fields, shared with Iraq, include five major fields: North Azadegan, South Azadegan, North Yaran, South Yaran, and Yadavaran. These fields hold strategic importance for Iran's oil industry, with the latest studies estimating an in-situ deposit of 67 billion barrels of both light and heavy crude oils. This substantial reserve has the potential to significantly boost Iran's future oil output.
In July 2023, Abdollah Ozari, managing director of the Arvandan Oil and Gas Company (AOGC), a subsidiary of the National Iranian Oil Company (NIOC) operating in the West Karoun region, reported an increase in output from the West Karoun oil fields by 20,000 bpd in the previous Iranian calendar year, which ended on March 19. During a meeting with Sharifi and other regional oil industry officials, Ozari highlighted the efforts to increase production by redirecting some oil flow lines in the South Azadegan field to prevent oil from high-pressure wells pushing back into low-pressure ones. This strategic adjustment contributed to the significant increase in oil production in the West Karoun region.
MENAFN04082024000045015839ID1108515072
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.