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On Saturday, Iran decided to add 60 new wells to boost production capacity in the South Azadegan oil field, Iran’s largest field, shared with its neighbor Iraq.
The head of the National Iranian Oil Company (NIOC), Mohsen Khojasteh-Mehr, announced the news, adding that the southern Azadegan field’s production capacity has seen a significant increase with the addition of 60 new wells over the past year, reaching a current production level of 120,000 barrels per day.
He pointed out that decisions have been finalized for all joint Iranian fields, with plans to sign a contract to develop two additional joint fields by March 20.
In July 2020, a unit of state-run NIOC signed a deal with the local company Petropars to raise output capacity to 320,000 bpd from 140,000 bpd within 30 months at the Azadegan field.
