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07/10/13

Iran to boost output at joint oilfield with Oman

Source: Mehr News Agency

Iran will boost output at the Hengam oilfield, which is associated with Oman in the Persian Gulf, to 30,000 barrels per day.


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The Hengam oilfield development plan will officially come on stream on Thursday in a ceremony which will attended by President Mahmoud Ahmadinejad, the Shana News Agency reported on Tuesday.

The Hengam oilfield development plan is also projected to produce 80 million cubic feet of natural gas per day.

The field is estimated to hold 700 million barrels of crude oil and 2 trillion cubic feet of natural gas.

Some $450 million has been invested in the first phase of developing the Hengam oilfield.

National Iranian Offshore Oilfields Company managing director Mahmoud Zirakchianzadeh has said that at present, some 22,000 barrels per day of oil is extracted by Iran from the field.

In April 2012, Zirakchianzadeh said that Iran has launched projects to develop four oilfields, located in Persian Gulf, and raise the total output by 100,000 bpd in the current calendar year.

Iran has announced that it will implement 11 plans by the Iranian calendar month of Mordad 1392 (July 22-August 22, 2013) with the goal of boosting oil production by 175,000 barrels per day (bpd).

Oil Minister Rostam Qasemi has said that the country's oil output is projected to increase by 1.5 million bpd by 2016.

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