CEO of the Petroleum Engineering and Development Company (PEDEC) Noureddin Shahnazizadeh said Iran is developing the field for 100,000 b/d of crude oil from the field, adding talks are under way with local and foreign companies for developing the field’s second phase under the newly-devised model of oil contracts.
Currently, crude oil output stands at 30,000 b/d and over 10.6 million barrels have been pumped out of the field for $600 million in revenue, he added.
He further said that the first train of the field’s processing unit is scheduled to come on-stream by the end of the current calendar year to March 20, adding the facility’s construction has made 57% progress.
“God willing, production from the field will reach 65,000 b/d by the end of the [calendar] year,” the PEDEC official added.
Shahnazizadeh further added that the contract for development of the field will be signed in the near future.
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