Iran’s oil output to climb by 120k bpd

TEHRAN, Aug. 31 (MNA) – An official has announced the plan to boost crude oil production at joint fields with Iraq by 120 thousand barrels per day (bpd) before the end of the current Iranian year (began March 20).
Managing Director of National Iranian Oil Products Distribution Company (NIOPDC) Noureddin Shahnazi, while pointing to the rise in production capacity at West Karoun oil fields region, said the current harvest volume at Yadavaran as well as North and South Azadegan stands at 225 thousand barrels per day.
He estimated that a total of 120 thousand barrels will be added to the production rate of West Karun by the end of the current year.
He went on to explain that “in addition to an exponential increase in oil recovery from South Azadegan oil field by 60 thousand barrels per day, North Yaran and Azar fields will also deliver 30 thousand bpd apiece.
The volume of crude production from six oilfields of Azadegan Plain is about 150 thousand barrels per day, noted Shahnazi asserting “by the year 2020, oil recovery from South Azadegan, first phase of North Azadegan, second phase of Yadavaran, Azar, North Yaran, South Yaran field will reach an aggregate total of 655 thousand barrels per day.”
NIPDC managing director also touched upon ongoing negotiations with China National Petroleum Corporation International (CNPCI) over the second development phase of North Azadegan as well as with Sinopec (China Petroleum & Chemical Corporation) to develop Phase 2 of Yadavaran field reiterating “final talk with both firms are being conducted.”