Iranian official emphasizes need to accelerate South Azadegan field’s production
(MENAFN) Hamid Bovard, the head of the National Iranian Oil Company (NIOC), underscored the urgency of accelerating the development of the South Azadegan oil field to boost output from this joint field by the end of the current Iranian calendar year, which concludes in late March 2025. During a recent meeting with senior managers from Arvandan Oil and gas Company, the entity responsible for the field's development, Bovard highlighted the need for expeditious progress to enhance oil production rates.
Bovard also stressed the importance of establishing robust communication channels with Iraqi oil companies, given that Iran shares the South Azadegan field with Iraq. Effective collaboration is crucial for devising and implementing strategies to maximize production from this significant oil reserve. Additionally, he called for a comprehensive action plan to transform the West Karun region into a prominent and unique oil production hub.
The South Azadegan oil field, located approximately 80 kilometers west of Ahvaz near the Iraqi border, holds substantial reserves with an estimated 25.34 billion barrels of oil in place and around 1.7 billion barrels of recoverable oil, based on a recovery factor of 6.6 percent. The development of the field is being executed in two phases, with a targeted production goal of reaching 600,000 barrels per day (bpd).
South Azadegan is part of the West Karun oil fields, one of five major oilfields Iran shares with Iraq. The West Karun region is particularly significant due to its estimated in-situ oil deposit of 67 billion barrels, encompassing both light and heavy crude oils. This region has the potential to substantially impact Iran's future oil production increases. Recent efforts have included major steps such as procuring essential equipment, which have accelerated the development process of the South Azadegan oil field over the past year.
MENAFN08092024000045015839ID1108648720
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.