Iran to Increase Production from Joint Oilfield with Iraq

By John Lee.

According to a report from Tehran Times, Iran will double output at the Yadavaran oilfield, which straddles the border with Iraq, to 50,000 bpd by the Iranian calendar month of Dey (beginning 22nd December).

Production started in February 2012 and the oilfield is currently producing 25,000 bpd of crude oil, but 55 wells will be drilled by next month. Output is projected to reach 300,000 bpd in three phases.

Iran and the Chinese Sinopec signed a buyback contract in 2007 on the development of the Yadavaran oilfield.

(Source: Tehran Times)

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