21 August 2022 - 09:34
  • News Code: 460832
IOOC Planning to Develop Oilfield Joined with Saudi Arabia

TEHRAN (Shana) -- The CEO of the Iranian Offshore Oil Company (IOOC) said the first stage of development of the Esfandiar joint oilfield, which is shared with Saudi Arabia, has been placed on the company's agenda, and according to the plans, its implementation is expected to be completed within 36 months.

According to IOOC, Alireza Mehdizadeh said the field’s development plan has been devised by IOOC and approved by the National Iranian Oil Company (NIOC) board of directors and a licensing round will be held soon for developing the field which is shared with Saudi Arabia’s Lulu field in the Persian Gulf.

Stating that this field is located 95 kilometers southwest of Khark Island, he said: “Based on the results of a comprehensive study of the field, the design, construction and installation of a well platform and the drilling of four production wells have been proposed in the first phase, and the production fluid from this field, after being transferred and processed at the Abouzar platform, will be transferred to Khark Island.”

He said IOOC also plans to drill an exploration well in Esfandiar to obtain more information about the structure of the oil reservoir and to have a better analysis of the next phases of the development project in the field.

News Code 460832

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