SHANA – Iran has stabilized its crude oil production from South Yaran oilfield at 10,000 barrels per day, operator of the field's development project said.

Homayoun Kazemeini said production from the field, which Iran shares with neighboring Iraq, began in late December, adding the 6 productive wells at the field are currently producing 10,000 barrels of crude oil per day.

He said drilling operations of 12 other wells have almost finished and wellhead facilities are about to be installed over them.

The field is being developed by Iran's state-run Petroleum Engineering and Development Company (PEDEC).

Over 70% of the operating staff in the project are local manpower, he added.

Located 130 kilometers off the southwestern city of Ahwaz, the field is estimated to contain 645 million barrels of in-place crude oil in its reserves.

National Iranian Oil Company (NIOC) is financing development of the field.

Iran has prioritize development of the oil and gas fields it shares with its neighbors.