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Iran is drilling 60 additional wells in an oil field shared with Iraq
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Economy News _ Baghdad
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Added 12/24/2023 - 1:55 PM
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Economy News _ Baghdad
The National Iranian Oil Company announced on Sunday the addition of 60 new wells in an oil field shared with Iraq.
The head of the Iranian company, Mohsen Khojasteh Mehr, said that the production capacity of the South Azadegan field witnessed a significant increase with the addition of 60 new wells during the year to reach the current production level of 120 thousand barrels per day.
He pointed out that development plans for all joint fields in the country have been completed, and work is underway to sign a contract to develop two additional joint fields by next March 20.
In July 2020, a consortium of Iranian companies including Petrobars signed an agreement with the National Iranian Oil Company to increase the production capacity of the Azadegan field to 320,000 barrels per day from 140,000 barrels per day within 30 months.
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Added 12/24/2023 - 1:55 PM
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