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Asia Today ISSN 1861-4604 Monday, July 16, 2018

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Development of joint oilfields with Iraq-Iran’s high-priority

The project targets producing 550,000 barrels of crude oil per day.

Share on Facebook June 15, 2016, Reporter : Trend, Reader : 625

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Baku, Azerbaijan, June 15 By Fatih Karimov - Trend: Iran has made significant progress in development of the West Karoun oil fields which are shared with Iraq.

Yadavaran, North Azadegan, South Azadegan, North Yaran, and South Yaran oil fields are dubbed West Karoun oil fields.

According to an oil ministry report obtained by Trend the development of the first phases of both North Azadegan (with targeted output of 75,000 barrels of oil per day) and Yadavaran (aimed at producing 85,000 barrels of oil per day) are almost completed, ready to come into force.

The latest development situation of West Karoun oil fields

Project

Progress by Aug. 2013(%)

Progress by March 2016(%)

Physical progress under President Hassan Rouhani's administration

Yadavaran (phase 1)

83

98.7

15.7

North Azadegan (phase 1)

48

97.7

49.7

South Azadegan (phase 1)

Chinese contractor dismissed in 2015. Currently drilling wells are undergoing. The project was completed by 20.1 percent by March 2016.

South Yaran

4.3

56.8

52.5

North Yaran

-

82.3

72

(since March 2014)

The Economy Council of Iran has approved the development of West Karoun oil fields as the largest joint oil fields development plan. The project targets producing 550,000 barrels of crude oil per day.

It was earlier announced that the country plans to boost its oil production to 5.7 million barrels per day by 2021.

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