Tehran - Sarvak Azar Co. and Global Petrotech Kish Co. have signed a 207 million euro contract for drilling of Azar oil field.
The contract envisions entrusting the task of drilling 10 wells to Global Petrotech Kish Co. in the EPDS form.
The project is expected to be commissioned in 41 months.
The second such contract had been signed by Persia Oil and Gas Company (POGC) and Oil Industries Engineering and Construction Company (OIEC), according to Operator of the development plan of Azar and Changuleh oil fields Hamid Karimi.
Karimi said recently that the POGC and the National Iranian Drilling Company (NIDC) have dispatched two drilling rigs to the area and will soon ink a third drilling contract.
He added that drilling operations will start next week and six drilling rigs will arrive at the area before the end of current Iranian year ending 20 March 2013.
Azar oil field will yield 65,000 barrels of oil per day in a 55-month period but before that, oil production will start initially with 30,000 barrels per day in a 36-month period.
Under the contract, POGC is responsible for drilling of two oil wells in a 29-month period. The NIDC and OIEC have already signed another contract on drilling 7 developmental wells under which NIDC would drill 31,500 meters in a 35 month period.
With in-place oil reserves standing at about 2.5 billion barrels, the oil field is located west of Iran and is shared with Iraq. Development contract of the field was signed in September last year between OIEC and a consortium comprising domestic companies.
© IRNA 2013
