5 July 2020 - 15:08
  • News Code: 304580
Iran Bracing to Enhance Oil Recovery at Azar Oilfield

TEHRAN (Shana) -- The Central Processing Facility (CPF) of Azar Joint Field is now complete, marking a major step towards enhanced oil recovery at the field.

Inauguration of the facility realizes the final production target of 65,000 barrels of crude oil per day in this field.

The Petroleum Engineering and Development Company (PEDEC), as the employer of the project, has announced that the countdown has begun for production of 65,000 b/d of crude oil under a buyback deal.

Oil Industry Pension Fund Investment Company (OPIC) (as investor of the project) has signed a deal with the Oil Industries Engineering and Construction Company (OIEC) for developing the geo-physically complicated field.

Production of 15,000 b/d from the field began in 2016 and nearly doubled in about two months.

News Code 304580

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