By John Lee.
Iraq's Ambassador to Iran, Rajeh Saber Aboud al-Moussavi, has said that Tehran and Baghdad are in talks on investment in the joint Azadegan oilfield.
The field, situated 80-100 kilometres west of Ahvaz in Khuzestan province in Iran, was discovered in 1999, and has reserves estimated at 33 billion barrels.
It is already producing 50,000 barrels of oil per day, and is currently being developed to produce 75,000 bpd. Once fully operational, the field is expected to produce 150,000 bpd.
The Petroleum Engineering and Development Company (PEDEC) is conducting studies on the second phase of the field's development.
(Source: Iran Daily)
(Iraq-Iran image via Shutterstock)