Oil Recovery from South Azadegan Oilfield to Rise by 60,000 bpd

TEHRAN, July 25 (Shana) -- Executive Manager of South Azadegan Development Project, Seyed Mahmoud Marashi, said on Sunday that in two phases this year, daily oil recovery from South Azadegan joint field will incrase by 60,000 bpd to more than 110,000 bpd.

Addressing a press conference, Marashi said for the time being, 19 rigs are operating in the field and after discharging China National Petroleum Corporation (CNPC) in 2014, more than 270,000 meters of drilling were made in the area.

He said South Azadegan field is developed to yield 320,000 bpd crude in the first phase and to bring about 280,000 bpd crude in the second phase.

The official said 185 wells are to be drilled in the field and 38 out of the total wells are now ready and 132 others are specified for drilling.

Elsewhere in his remarks, Marashi referred to cut of drilling expenditures and said in 2014 when tender was run for drilling South Azadegan wells, each well was entrusted to the contractor to be drilled at a cost of 12.5 million dollars while the sum has now decreased to 7.5 million dollars now.

He said a tender is run for drilling the remaining 53 wells in South Azadegan.

Since 2014, 50 tenders have been run, he added. 

He predicted that oil recovery from South Azadegan field will reach 320,000 bpd by 2018 and targets of the first phase will be met. 

To a question about likelihood of ceding second phase of the project for development of the joint field to French Total, he said Total has voiced willingness for the purpose and South Azadegan is among the projects Total has proposed to develop.

Asked about cooperation with Japanese INPEX, he said Inpex has voiced willingness for contribution into projects for development of South Azadegan and it is predicted that when tenders are held the Japanese company will definitely take part in the tenders./

News Code 265629

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