An Iranian oil industry official says the country is planning early production from an oil field it shares with neighboring Iraq three months ahead of original schedule.
Arash Baqerzadeh, official in charge of North Yaran oil field’s development project, was quoted by Iranian media as saying on Monday that the field was originally supposed to come on-stream in April 2016, but Iran is now planning to start early production in March by extracting 15,000 barrels per day (bpd) crude oil from the field.
Baqerzadeh noted that development project of the joint oil field has so far progressed 77.9 percent, adding that it is among few development projects that are expected to be finished ahead of schedule.
He said all commodities needed for development of the field have been purchased, adding that drilling well No. 19 has been finished and drilling well No. 20 will reach its end in late February 2016.
Baqerzadeh stated that about 52 kilometers of pipeline has been constructed from North Yaran oil field’s wells toward cluster zone and the rest of the needed pipeline will be built in the next two months.
The official also stated that the time needed to build every well has been reduced from 300 days to about 80 days.
In late July 2015, Baqerzadeh had announced that North Yaran oil field will start producing crude oil as of next April.
“This project is progressing according to schedule and a new record in drilling has been achieved in this field compared to other projects that are being carried out in West Karoun region,” he said.
The official noted that the overall share of the Iranian companies from the project stands at 84 percent, adding, “When it comes to drilling and related services, Iranian companies are in charge of 100 percent of the operations.”
North Yaran oil field as well as South Yaran, Yadavaran, South Azadegan, and North Azadegan oil fields, are five major fields that are located in Iran's southwestern province of Khuzestan close to border with Iraq and are shared with Iran's western neighbor.
North Yaran oil field is located approximately 130 kilometers west of the provincial capital city of Ahvaz. When the first phase of the field’s development is completely finished, it will produce 30,000 bpd of crude oil with an API between 16 and 18.