23 February 2016 - 11:17
  • News Code: 255631
Iran Eyes 250kb/d of Crude from Azadegan Oilfield by late 2016

TEHRAN, Feb 23 (Shana) -- Iran says it has planned to raise its crude oil recovery from North Azadegan oil field by 250,000 barrels per day by late 2016.

Iranian Minister of Petroleum Bijan Zangeneh told Shana that the development project of the oilfield is nearing completion and it has become productive for the time being. 

Plans are under way to bring the field's daily output to 250,000 b/d by late 2016, said the Iranian official.

Iran shares Azadegan oilfield with neighboring Iraq. The field holds 5.6bn barrels of oil in its reserves and is being developed in two phases for production of 75,000b/d in each phase. 

Once the first two phases of the project become operational, its production will cross 150,000 b/d. 

News Code 255631

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