Iran News ...


08/29/10

Iran to boost production at joint oilfields in Persian Gulf

TEHRAN, Aug. 29 (Mehr News Agency) -- Iran plans to pump more crude from three oilfields shared with Oman, the United Arab Emirates and Saudi Arabia in the Persian Gulf, the managing director of Iran's Offshore Oil Company (IOOC) said here on Sunday.

Mahmoud Zirakchianzadeh said that some 30,000 barrels per day would be added to the country's production capacity."

He also said that some 400 million euros have been allocated for the development of Esfandiar oil field out of the energy fund, which Iran shares with Saudi Arabia.

"Oil output of Salman and Forouzan oilfields will increase by 10,000 barrels per day," Zirakchianzadeh said.

Iran shares its Salman and Forouzan oilfields with the UAE and Oman, respectively.

Last week, Iran began pumping oil from the Hengam oilfield, shared with neighboring Oman in the Persian Gulf.

"The field is to produce 10,000 barrels per day of the finest and lightest of Iranian crude in the first phase, but its production level will reach 16,000 barrels in two months," Iranian Oil Minister Massoud Mirkazemi said on Tuesday.

He said Iran's oil ministry invested around $400 million in a record time of two years to develop the project.

The Hengam oilfield is located along the maritime border with Oman. Tehran said the field is estimated to hold nearly 600 million barrels of oil.

All aspects of the project, including field studies, design, construction and installation of machinery and pipelines have been carried out by Iranian contractors without any foreign aid, Press TV reported.

Energy officials in Tehran said in July that as much as 35 percent of the energy development budget in Iran will go toward the development of joint oilfields.

Iran shares oilfields with most of its neighbors in the Persian Gulf region as well as Turkmenistan.

... Payvand News - 08/29/10 ... --



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