As reported, the memorandums of understanding (MOU) for Azadegan field studies were signed on Monday in a ceremony attended by Oil Minister Bijan Namdar Zanganeh, between the NIOC and five Iranian exploration and production companies.

The studies on the field will be conducted in three different sections, namely the southern, central, and northern areas.

The MOU for research on the northern part of the field was signed with Persia Oil And Gas Industry Development Company, the central part of the field was awarded to Petropars and PetroIran companies, while MOU for the studies on the southern part was signed with Pasargad Energy Development Company and Dana Energy Group.

Azadegan is Iran’s biggest joint oil field near the Iraqi border that covers an area of 1,500 square kilometers.

The field’s reservoir is estimated to contain 32 billion barrels of oil, and its development has so far been pursued in two sections, the Southern Azadegan and the Northern Azadegan.

Azadegan is one of the five major oilfields Iran shares with Iraq at the western part of Iran’s southwestern region of Karoun, known as West Karoun fields.

West Karoun holds great importance for the country’s oil industry since according to the latest studies, its in-situ deposit is estimated to be 67 billion barrels containing both light and heavy crude oils, and therefore it could have a big impact on Iran’s oil output increases in the future.

Having an estimated 67 billion barrels of in-situ oil, West Karoun fields definitely deserve the spotlight which has been put on them recently.

The post Domestic firms ink MOUs to conduct development study on Azadegan field appeared first on Iran News Daily.

The mentioned Engineering, Procurement, Drilling (EPD) contract includes engineering services, procurement, drilling, drilling services, and completion of 10 new wells over a 16-month period, according to Petropars Managing Director Hamidreza Masoudi.

Masoudi stated that based on the deal, nine production wells and a well for discharging unwanted fluids will be dug.

“The contractor has been selected through tender and in competition with other competent contractors; based on the contract it is expected that about 40 kilometers of drilling operations will be conducted in this project,” he explained.

Back in July 2020, the Iranian Petroleum Engineering and Development Company (PEDEC) and Petropars Group signed a deal for completing the development of the South Azadegan oilfield in southwestern Iran.

The deal, worth $961 million plus 11.83 trillion rials (about $281.66 million), was signed by PEDEC Managing Director Touraj Dehqani and Petropars Head Hamidreza Masoudi at the presence of Oil Minister Bijan Namdar Zanganeh.

South Azadegan is one of the five major oilfields Iran shares with Iraq at the western part of Iran’s Karoun region, known as West Karoun fields.

West Karoun holds great importance for the country’s oil industry since according to the latest studies, its in-situ deposit is estimated to be 67 billion barrels containing both light and heavy crude oils, and therefore it could have a big impact on Iran’s oil output increases in the future.

Having an estimated 67 billion barrels of in-situ oil, West Karoun fields definitely deserve the spotlight which has been put on them recently.

The post Local firm inks deal to add 10,000 bpd to South Azadegan oil output appeared first on Iran News Daily.