TEHRAN Dec 01 (Shana): Oil production from Yadavaran oil field will increase by 50,000 b/d in February next year, earning the country some 150 million dollars in monthly reviews.Iran is accelerating efforts to recover oil from Yadavaran which is shared with Iraq. The revenues forecasted to be reaped from this field will make up for delays in the development.
The first phase of development of Yadavaran is forecasted to give 85,000 b/d. This phase has progressed 86 percent in the upstream and downstream sectors.
Nearly 12 million barrels of oil have so far been produced from Yadavaran. At present, it is producing 26,000 b/d.
The first phase of the field will be completed in one year time from now. Four months after its start-up the field will be producing 85,000 b/d.
At present, 55 wells (including 46 development wells, three appraisal wells, three injection wells and three exploration wells) have been drilled in the field.
The field is under development under a buy-back deal struck between Irans Petroleum Engineering and Development Company (PEDEC) and Chinas Sinopec as the contractor.
By SHANA
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