Iran in talks over developing largest oilfield

Iran is in talks with foreign and domestic companies for the development of South Azadegan, which would be the biggest oilfield that the country shares with Iraq. South Azadegan has the potential to produce 320 000 bpd of oil during the initial phase, before raising recovery to 600 000 bpd.

“We are currently in discussions with these companies and reviewing technical issues,” said Mahmoud Mar’ashi, who is in charge of the project. “If foreign companies are selected, their operation modality will be similar to that by local companies in the form of two-year usance where each firm will have to dig 20 wells.”

In 2001, Iran did award the development of South Azadegan to Japan's Inpex but due to the company's inaction, the project was terminated after five years.

South Azadegan is the third largest oilfield globally, with in-place reserves of approximately 33.2 billion bbls and recoverable resources of about 6 million bbls.

Sources:

Edited from various sources by

Published on 28/09/2015


Get your FREE Oilfield Technology magazine »

Get your FREE trial of Hydrocarbon Engineering magazine »

Get your FREE trial of World Pipelines magazine »


 
 

Related articles

Iran and Oman studying gas pipeline route

Iran and Oman are surveying the best path for a subsea gas pipe to transfer Iran’s gas to the sultanate.

Iran and Pakistan finalise ‘peace pipeline’ without India

The US$ 7.6 billion pipeline deal between Iran and Pakistan goes ahead without India – contrary to the original plan conceived in the 1990s.

Iran and Pakistan finalise pipeline deal

Pakistan and Iran have signed an agreement finalising the plans to construct a natural gas pipeline between the two countries.

Iran aims to break out of exile

Iran is seeking foreign investors and markets in a new drive to develop its natural gas reserves and establish itself as a major energy supplier.

Recommend magazines

  Oilfield Technology