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Yadavaran To Reach Early Oil Target ‘Over Next Few Weeks’

The Managing Director of Iran’s Petroleum Engineering and Development Company (Pedec) Naji Sadouni told Mehr News Agency on 1 May that the Sinopec-run Yadavaran development project will reach its early oil output target of 20,000 b/d “over the next few weeks.” The field lies in Khuzestan province and has estimated oil reserves of 3.2bn barrels. The field has been under development by China’s Sinopec since December 2007 (MEES, 17 December 2007). The $2bn development program has been significantly delayed, according to the National Iranian Oil Company (NIOC). The first two phases of the development are expected to raise output capacity to 185,000 b/d. Mehr said that NIOC expects overall expenditure on these phases to be $1.65bn higher than originally estimated. Commercial production from Yadavaran began in February at a rate of 10,000 b/d (MEES, 13 February). A third phase of development is envisaged to bring total output capacity to 300,000 b/d.

© Copyright MEES 2012.