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Development of Azadegan oil field in Iran to be completed by early 2023

Iran may have some 69 million barrels of oil in floating storage waiting on tankers to travel to buyers when U.S. sanctions on its crude oil exports are removed

Development of Azadegan oil field in Iran to be completed by early 2023

Teheran, December 30 - Neftegaz.RU. Head of National Iranian Oil Company (NIOC) Mohsen Khojasteh-Mehr has said the development project of the strategic Azadegan oil field will be completed by early Iranian calendar year 1402 (begins in March 2023), Shana reported.

Khojasteh-Mehr made the remarks on the sidelines of the signing ceremony of 4 contracts and cooperation memorandums between the Oil Ministry and the Academic Center for Education, Culture, & Research (ACECR).

Azadegan is one of the 5 major oilfields Iran shares with Iraq at the western part of Iran’s southwestern region of Karoun, known as West Karoun fields.

The field’s reservoir is estimated to contain 32 billion barrels of oil, and its development has so far been pursued in 2 sections, the Southern Azadegan and the Northern Azadegan.

Back in May, NIOC awarded the development study of the Azadegan oil field to 5 domestic companies.

According to the agreements signed between the 2 sides, the studies on the field are conducted in 3 different sections, namely the southern, central, and northern areas.

The memorandum of understanding for research on the northern part of the field was signed with Persia Oil & Gas Industry Development Company, the central part of the field was awarded to Petropars and PetroIran companies, while MOU for the studies on the southern part was signed with Pasargad Energy Development Company and Dana Energy Group.

Source : Neftegaz.RU

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