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. 

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./