West Karoun oil output to reach 1.4 mb/d

TEHRAN June 28 (Shana)–Crude oil production capacity of West Karoun fields is to reach 1.4 mb/d by 2021, according to National Iranian Oil Company (NIOC) estimates.

 The fields located in oil-rich West Karoun region in southwestern Iran are currently producing 300,000 b/d.

The fields are under development for enhanced recovery.
Meantime, gas production from these fields is expected to rise to 1 bcf/d in 2021. The gas will feed refineries and petrochemical plants, be injected into oil fields and the rest will be exported.
According to national economic plan, the West Karoun fields are expected to produce 550,000 b/d of oil and 335 mcf/d of rich gas in three years.
A total of 12.5 billion dollars has been withdrawn from National Development Fund (NDF) for early production from the West Karoun fields.
Development of West Karoun fields is estimated to earn the country 21.5 billion dollars a year.

By SHANA

 

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