A view of Iran's South Pars Gas and Oil Field[/caption]Work to develop the North Azadegan oil field in Iran is around 61 percent complete, according to Abdolreza Hosseinnejad, managing director of Petroleum Engineering and Development Company (PEDEC), as reported in the country's Fars News Agency.
The first phase of the North Azadegan oil project is expected to be completed in the next 18 months, when it will produce 75,000 barrels of oil per day (bopd) from the field. PEDEC hopes production from the North Azadegan project could start earlier. At the moment, drilling of 44 of the 58 wells in the field has been completed, Hosseinnejad said. Meanwhile, North Azadegan's oil production is set to rise to 150,000 bopd when the second phase is completed.
China National Petroleum Corporation is the contractor developing South and North Azadegan oil field. North Azadegan oil field is located in Iran's western province of Khuzestan.
The field has estimated reserves of 6 billion barrels of oil and can produce 75,000 bopd for 25 years, according to the Iranian Oil Ministry. PEDEC is in charge of development plans of the oil fields located in the West Karoun region, including North and South Azadegan, North and South Yaran and Yadavaran oil fields.
By RIGZONE
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