Iranian PEDEC Seeks To Increase Daily Oil Production

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 18.​ The Iranian Petroleum Engineering and Development Company (PEDEC) plans to increase crude oil production by 25 percent per day in the next Iranian year (from March 21, 2025, through March 20, 2026), compared to the current year (from March 20, 2024, through March 20, 2025), Abbas Goudarzi Arjmand, Head of the Production Control and Coordination Department at PEDEC told reporters, Trend reports.

Goudarzi articulated that the organization anticipates daily output to escalate to 450,000 barrels in the forthcoming fiscal year. At present, the organization is generating an output of 360,000 barrels on a daily basis.

The corporate representative further articulated that, in the present fiscal year, output at the South Azadegan oil field has escalated by an impressive 20,000 barrels per diem. In the upcoming fiscal year, the organization aims to optimize output at South Azadegan through the retrofitting of residual wells and the deployment of 18 downhole pumping systems.

The South Azadegan field is estimated to contain 28.2 billion barrels of crude oil, with 1.6 billion barrels expected to be recoverable. According to development plans for the field, the first phase aims to produce 320,000 barrels of crude oil and 197 million cubic feet (about 7 million cubic meters) of natural gas per day, while the second phase is expected to produce 280,000 barrels per day.

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