Iran extracts 763 mb from joint oilfield with Saudi Arabia

TEHRAN, June 19 (Shana) – Iran’s crude oil recovery from Forouzan Oilfield, which it shares with Saudi Arabi in Persian Gulf waters, has reached 763 million barrels, 24% of the field’s total oil output.

Iran enjoys only 11% of the field but has so far recovered 24% of its total crude oil output.

Meanwhile, Saudi Arabia has recovered 2.360 billion barrels of crude oil from the field.

The Iranian Offshore Oil Company (IOOC) is currently recovering 38,000 b/d from the field, while Saudi Arabia is extracting only 190,000 b/d given its facilities to recover 400,000 b/d from the field.

By SHANA