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Iran Eyes 30kb/d Crude Output from South Yaran by Next Summer.

TEHRAN (FNA)- Iran says it will start extracting at least 30,000 b/d of crude oil from South Yaran oilfield located in the west Karoun oil rich region by summer.

Petroleum Engineering and Development Company (PEDEC) Abdolreza Haji-Hosseinnejad told a press conference on Saturday that the field is now producing 5,000 b/d which will double by the end of the current Iranian calendar year to March 20.

He said the field is being developed under a buyback contract and drilling of all of its wells has completed and wellhead valves are begin installed which will finalized before next summer.

The PEDEC chief said the field contains light crude oil and is shared with neighboring Iraq.

He said Japanese contractors have stepped forward to develop South Azadegan oil field now that international sanctions on Tehran's nuclear program have been lifted and Iran is welcome to global financial arenas.

"PEDEC is prepared to cooperate with every company wishing to develop oil fields in Iran," he said.

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Publication:FARS News Agency
Geographic Code:7IRAN
Date:Jan 31, 2016
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