The development project of the field had made only 5% progress when the Chinese contractor was expelled from the field last year, Managing Director of Petroleum Engineering and Development Company (PEDEC) on Thursday.
Haji-Hosseinnejad, who was addressing a meeting with Iranian Minister of Petroleum Bijan Zangeneh in oil-rich Khuzestan Province, said 70% of tenders for development of the field have been arranged and 44 more tenders have been ticketed to be held.
In the first phase of the development of South Azadegan field, 320,000 b/d of crude will be recovered. For that purpose, 385 wells need to be drilled in this field. The initial budget approved for the development of South Azadegan is 500 million dollars plus 500 trillion rials.
In its first phase of development, South Azadegan will also be producing 197 mcf/d of gas. In the second phase, oil production will rise to 600,000 b/d.
Plans are under way for adding up to 40,000 bpd of oil to the field's output by the next spring, Haji-Hosseinnejad added.
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