Iranian Deputy Oil Minister, Seifollah Jashnsaz told Mehr News Agency that Iran’s Azadegan oilfield production reached 40,000 barrels per day (bpd).

“The daily output of the Azadegan oil field reached 40,000 barrels following an increase of 13,000 barrels after the completion of seven new wells,” the agency quoted Jashnasaz.

Mehr also reported that production will soon reach 50,000 bpd after the completion of more wells.

It’s worth mentioning that in January 2009 China’s National Petroleum Corporation (CNPC) signed a $2 billion deal with the state National Iranian Oil Company (NIOC) for the development of south Azadegan field, and in July it signed another arrangement for the northern fields.

CNPC, under the northern fields deal, would pay 90 percent of the costs of a $2.5 billion project.