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Iran is moving forward with plans to hasten production from fields shared, or thought to be shared, with neighboring countries.
State company PEDEC is targeting first production from the 2.5bn barrel Azar oil field by the start of the upcoming Iranian year (20 March 2016-20 March 2017), senior reservoir engineer Keyvan Yarahmadi says.
The field is thought to be a continuation of Iraq’s 3bn barrel Badra field which is operated by Russia’s Gazprom Neft. Current Badra output is 27,000-28,000 b/d, up from 15,000 b/d last year - though this is some way off the 60,000 b/d end-2014 production target (MEES, 25 July 2014). Plateau production of 170,000 b/d is slated for 2017. (CONTINUED - 299 WORDS)