Iran expects Aghajari oil field to yield 300,000 bpd oil for 20 years

Mar 15, 2004 01:00 AM

Aghajari oil field southwest of Iran will yield 300,000 bpd of oil under a 20-year plan from the current level of 172,000 bpd of oil. The official in charge of the project Yousef Davoodi told that the increase in output will be possible with the completion of a project, due to start in Summer 2005, for injection of 2 bn cf of gas into the field a day.
Davoodi said necessary plans had been made to inject 20 tcf of gas into the field. The gas needed for injection, said the official, will be conduited from phases six, seven and eight of South Pars gas field through a 512 km pipeline, he added.

Any failure in the gas injection process would lead to a reduction in the field’s output to 50,000 bpd until the next 18 years, he added. He said the project, costing $ 500 bn, aims to prevent a drop in production and maintaining the balance.
The National Iranian Oil Company has financed the project and it is implemented fully by Iranian experts, using Norwegian and Italian companies` technology on certain occasions, he added.

The source said the field contains 28 bn barrels of crude oil in situ, 10 bn barrels of which can be exploited. Some 8.9 bn barrels have thus far been recovered, he added.
He said that in light of the project, there will be no halt in oil production from the field in the next eight to nine years and the output will start rising. He added that an output of 300,000 bpd will remain stable for five years under a 20-year plan and then it will start falling. Aghajari oil field hit a record rise in 1974 for a production of 1,150,000 bpd.

Source: IRNA
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