ID :
203955
Sun, 08/28/2011 - 11:10
Auther :
Shortlink :
https://oananews.org//node/203955
The shortlink copeid
Iran to Develop 1st Phase of Azadegan Oil Field in 4 years
TEHRAN (FNA)- Managing Director of Iran's Petroleum Engineering and Development Company (PEDEC) Naji Sa'douni announced that the country will develop the first phase of Azadegan oil field in four years.
Sa'douni announced that the Islamic Republic and China will invest about $12bln on developing Iran's Azadegan oil field.
He said on Saturday that the projects of developing the Azadegan oilfield in Iran's southwestern province of Khuzestan will add 600,000 barrels of oil to the country's daily output.
The official went on to say that the investment will be made within the next 10 years, noting that the development of the first phase of the field is expected to be completed in 52 months.
Sa'douni stated that the Chinese company has so far invested about $180 million for an early production plan of the oil field with a daily capacity of 50,000 barrels.
He added that the Chinese side also invested about $6 million for drawing a comprehensive development plan for phases one and two, and upon the approval of the National Iranian Oil Company board of directors, the executive operations of phase one would be launched in the current Iranian calendar year (started March 21).
Sa'douni went on to say that 185 new wells should be drilled in the first phase of the project with ten rigs performing drilling and repairing operations simultaneously.
The Azadegan deposit is one of the world's largest, with reserves of 42 billion barrels of oil.
Sa'douni announced that the Islamic Republic and China will invest about $12bln on developing Iran's Azadegan oil field.
He said on Saturday that the projects of developing the Azadegan oilfield in Iran's southwestern province of Khuzestan will add 600,000 barrels of oil to the country's daily output.
The official went on to say that the investment will be made within the next 10 years, noting that the development of the first phase of the field is expected to be completed in 52 months.
Sa'douni stated that the Chinese company has so far invested about $180 million for an early production plan of the oil field with a daily capacity of 50,000 barrels.
He added that the Chinese side also invested about $6 million for drawing a comprehensive development plan for phases one and two, and upon the approval of the National Iranian Oil Company board of directors, the executive operations of phase one would be launched in the current Iranian calendar year (started March 21).
Sa'douni went on to say that 185 new wells should be drilled in the first phase of the project with ten rigs performing drilling and repairing operations simultaneously.
The Azadegan deposit is one of the world's largest, with reserves of 42 billion barrels of oil.
