TEHRAN – Two oilfields, namely Sarvestan and Sa’adat Abad, located in central parts of Iran, officially came on stream on Tuesday with a total projected output of 15,000 barrels per day.
The fields started early production on February 2, the Shana News Agency reported.
The two oilfields hold an estimated in-situ reserve of 1.402 billion barrels of crude oil.
Iranian President Mahmoud Ahmadinejad and Oil Minister Rostam Qasemi attended the inauguration ceremony of the oilfields.
National Iranian Oil Company (NIOC) Managing Director Ahmad Qalebani has said that the country’s daily oil and gas outputs should amount to five million barrels and 1.47 billion cubic meters by 2015.
NIOC 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).
The plans are related to the first phase of the development plans of the Yadavaran, Sarvestan, Saadatabad, Hengam, Forouzan, Reshadat, Aban, and Paydar oilfields.
Once all the phases of the development plans are implemented, the output will be increased by 500,000 bpd.
Next to Venezuela, Saudi Arabia, and Canada, Iran ranks fourth worldwide with 155 billion barrels of recoverable oil reserves.
Source: Tehran Times