25 July 2016 - 06:40
  • News Code: 265628
Sinopec to Undertake Phase 2 of Yadavaran Field

TEHRAN, July 25 (Shana) -- Executive Director of Yadavaran Oilfield development project Hadi Nazarpour said on Sunday that the Chinese Sinopec Group is to undertake Phase II development of Yadavaran Field.

Addressing a press conference, Nazarpour said now 100,000 bpd of oil is being extracted from Yadavaran joint field.

He said oil production from the joint field has not hit the edge of 100,000 bpd as Iraq started its share about four months ago.

He added that since early production of the field, 53 million barrels of oil has been extracted from the field.

The official said Yadavaran field is 70 kms southwest of Ahvaz north of Khorramshahr and consists of two regions: Koushk and Hosseinieh. Hosseinieh part is shared with Iraq, he added.

On a contract signed with the Chinese Sinopec Group in 2008 for development of Yadavaran field, he said three phases of the field’s development have been envisioned for the project and based on which production in the first phase will reach 85,000 bpd and in the second phase to 180,000 bpd. 

Commenting on the insitu oil reserves of Yadaravan field, he said based on early estimates, the reserves have risen to 31 billion barrels from about 12 billion barrels. “Regarding the increase in the reserves, definition of the fourth and fifth phases of development for the project is possible.”

The official then referred to current production from Yadavaran field which now stands at 100,000 bpd and said 83,000 barrels of the total output are light crude and 17,000 barrels heavy crude.

Yadavaran Oilfield is 10 kilometers to the southeast of Azadegan Oilfield and some 70 kilometers to the southwest of Ahwaz, north of Khorramshahr, i.e. between Kushk and Hoseiniyyeh along Iran-Iraq borderline./

News Code 265628

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