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In line with the government`s push to speed up production from fields shared with its western Arab neighbor. operations to drill 17 wells in Azar Oilfield. located in Anaran block bordering Iraq in Mehran. lIam Province. are underway. the chief executive officer of Iran`s Petroleum Engineering and Development Company (PEDEC) said.
These operations have been undertaken in cooperation with Sarvak Azar Engineering and Development Company and the National Iranian Drilling Company.
`The venture has registered a work-in -progress rate of 79% and it is expected to be completed by March 2019.` Noureddine Shahnazi-Zadeh was also quoted as saying by IRNA on Tuesday.
According to the official. as more wells become operational. the joint field`s output. currently at 30.000 barrels per day. will increase gradually to reach the final target of 65.000 bpd.
`However. Azar is not an easy catch.` he added.
The field is considered a drillers` nightmare given the sequence of its low- and high-pressure layers and the large number of tubes for drilling and lining of wells.
`The extracted oil will be delivered directly to Dehloran refining units. The field`s crude oil API. a measure of how heavy or light petroleum liquids are compared to water. stands at 33. which ranks it among medium grade crudes.` he said. The PEDEC chief said the project is being implemented under a buyback deal.
`The field is slated to supply 100.000 bpd once fully developed. yet the tall order cannot be fulfilled unless a consortium of foreign and domestic firms provide the financial resources.` he said.
Shahnazi-Zadeh believes that Majlis Energy Commission can play a key role in facilitating foreign investment in the country`s oil and gas sector. as well as concluding contracts with multinationals under the new Iran Petroleum Contract framework. aka IPC.
Azar holds 2.5 billion barrels of in-place oil. but new reservoir studies on the field suggest a much higher figure of 4 billion barrels. It is one of the six joint fields with Iraq. along with Dehloran. West Paydar. Naft-Shahr. Azadegan and Yadavaran.
According to Hamidreza Khoshayand. NIDC`s deputy head. the firm completed drilling operations for 12 wells between March 21 and April 20.
`By employing onshore rigs. NIDC. a subsidiary of the National Iranian Oil Company. drilled over 17.000 meters of oil and gas wells in the period.` he said. adding that the company drilled seven development and five repair wells.
The company’s services include well logging. cementing and acidizing. drill stem test. well testing. training. development and general services.
