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News number: 9106063200

16:17 | 2012-09-12

Economy

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Iran Starts Development of Darkhoveyn Oil Field's 3rd Phase

TEHRAN (FNA)- Managing Director of the Petroleum Engineering and Development Company (PEDEC) Nader Qorbani announced that executive operations at the third phase of Darkhoveyn oil field has kicked off.



The PEDEC managing director said development contract of Darkhoveyn third phase was signed last year between PEDEC and a consortium consists of four Iranian companies named Omid Investment Management Corporation, IRAN ITOK, Petro Omid Asia and Pooya Energy Company.

Executive operations at third phase have started since last May; Qorbani said, adding that progress of the phase is satisfactory.

He said development contract of third phase aims at production of 60 thousand barrels of oil per day adding at the time being production of first and second phase of the field stands at 160 thousand barrels per day that will reach 220 thousand barrels per day upon the completion of third phase.

Construction of 5 cellars and drilling five wells are among the prerequisites of production oil from the phase, the official said adding construction of two cellars has come to an end while construction of remainder cellars are expected to be completed in near future.

According to Qorbani five wells are slated to be drilled in the form of E.P.D that its related contractor will be chosen by holding a bidding round in next two weeks.

Darkhoveyn oil field is located 30 kilometers north of Khoramshahr city and 100 kilometers south of Ahwaz city. The field discovered in 1964 after drilling an appraisal well. In place oil reserves of Darkhoveyn oil field, that its first and second phase were launched respectively in 1995 and 2000, is estimated at five billion barrels of which up to 1.3 billion barrels could be extracted.