Iran to operate joint oilfield with Iraq
An oil facility in the Arabian Gulf. Photo: Tehran Times
Baghdad (IraqiNews.com) – The Managing Director of the National Iranian Oil Company (NIOC), Mohsen Khojasteh-Mehr, announced on Tuesday that Sohrab oilfield in the southern Khuzestan province near the border with Iraq will enter the operational phase, according to Fars News Agency.
During a conference on oil and gas fields, Khojasteh-Mehr explained that Sohrab joint oilfield located in the southwestern part of Iran will enter the operational phase with investments reaching one billion USD.
The Iranian official also confirmed that the operational processes in the oil layer of the South Pars field which is a natural-gas condensate field located in the Arabian Gulf will begin within the next two weeks.
Khojasteh-Mehr pointed out that the current Iranian government concluded contracts to develop North and South Yaran oilfields, Sohrab fields, the oil layer in South Pars field and projects in the 14th phase of South Pars field refinery with an investment of 2.5 billion USD.
Khojasteh-Mehr elaborated that Iran’s oil production capacity is currently more than 3.8 million barrels per day.
The Managing Director of NIOC added that the current situation of the Iranian oil exports is better than before, and new buyers for the Iranian oil have been found.