Saturday, Jul 26, 2008
TEHRAN (Dow Jones)-Crude oil production capacity from Iran's Forouzan heavy oil field has increased by 10% since last year, the Oil Ministry's Shana news agency reported Saturday, citing the Iranian Offshore Oil Company's managing director.
Mahmoud Zirakchian-Zadeh said that a factor that has drawn attention to the field is that it is shared by both Iran and Saudi Arabia, Shana reported.
The Saudi side of the field, called Marjan, is being developed by Saudi Arabian Oil Co., or Aramco, and the McDermott Co., according to Shana.
Production at the Forouzan oil field is predicted to be 65,000 barrels a day, Shana said.
Iran's Petroleum Engineering Development Company (PEDEC) is the contractor for the Iranian sector of the oil field, Shana reported.
The Forouzan oil field is located 100 km southeast of Kharg Island in the Persian Gulf, according to Shana.
-Roshanak Taghavi; Dow Jones Newswires; +0919 106 4892; Roshanakt@gmail.com
(END) Dow Jones Newswires
26-07-08 0944GMT
