10 January 2015 - 11:07
  • News Code: 232543
West Karoun Fields to Supply 220,000b/d

TEHRAN Jan 10(Shana)--Production from oil fields in West Karoun zone in southwestern Iran is expected to reach 220,000 b/d later this year, managing-director of Petroleum Engineering and Development Company said.

Abdorreza Hossein-nejad said production from South Azadegan oil field, located in West Karoun zone, is expected to double to 100,000 b/d next month.

The first phase of South Azadegan oil field envisages supplying 320,000 b/d of oil at a cost of $5.8 billion.

Iran shares South Azadegan with neighboring Iraq. China’s CNPCI was awarded the development of the field, but it was expelled after it failed to meet its obligations.

Since taking office in August 2013, Petroleum Minister Bijan Namdar Zangeneh has focused on the development of fields shared with neighbors. 

News Code 232543

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