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Iran: 2nd phase of Darkhovin oilfield inaugurated

Source: Mehr News Agency, Tehran

The second development phase of Darkhovin oilfield, in southwest Iran, officially came on stream on Tuesday. Oil Minister Masoud Mirkazemi attended the opening ceremony.

The oilfield's second phase came on stream at the cost of $1.3 billion and will increase the field's production capacity from 50,000 barrels per day (bpd) to 160,000 bpd. Some 280 million cubic feet of natural gas will also be produced in the field.

By completion of the field's third phase, Darkhovin's production capacity will reach 200,000 barrels per day in five years.

The first phase of Darkhovin development plan had come on stream in 2005.

Darkhovin oilfield, located near the Iraqi border, is jointly developed by Italy's oil and gas group Eni and Iran's Naftiran Intertrade Company (NICO).

Eni to fulfill its obligations

Eni will fulfill all of its contractual obligations in Iran, the company's Executive Vice President North Africa and Middle East Guido Michelotti said on Tuesday.

Iran and Italian major Eni have signed a reported US$1.5 billion deal for the development of Phase III of Iran's Darkhovin oil field. Eni had signed a $550 million deal with Iran's state oil company in 2001 to develop the first phase of the field.

... Payvand News - 02/09/11 ... --

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