Iran drills 53 oil wells in joint field with Iraq

Jun 23, 2015 12:00 AM

After the Chinese contractor was called to leave the joint South Azadegan field, the Iranian companies accelerated the development of the joint field with Iraq and have drilled 53 oil wells in the field so far.

The cancellation of the deal with China National Petroleum Corporation International (CNPCI) on the development of the South Azadegan came as the Chinese oil giant failed to fulfill its commitments and was lagging behind the schedule.

After Oil Minister Bijan Namdar Zanganeh cancelled a 2.5-billion-dollar deal with CNPCI, drilling of 100 wells was ordered to Iranian companies - 40 wells to National Iranian Drilling Company, 40 other wells to National Iranian South Oil Company and 20 wells to the private sector.

The development project of South Azadegan oil field has been divided into two phases.

In the first phase, it is projected that with drilling 185 oil wells the production of oil in this field will reach 320,000 barrels a day, with gas production rising 197 million cubic feet a day.

In the second phase, the daily oil production of this field is expected to reach 600,000 barrels.

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