Iranian Executive Director of Yadavaran Oilfield development project, Hadi Nazarpour, announced that the Chinese Sinopec Group is to undertake Phase II development of the field, SHANA reported. Nazarpour said, in a press conference, that the field consists of two regions: Koushk and Hosseinieh, the latter being partly shared with Iraq, and has a current oil production of 100,000 b/d.
The official further noted that the development contract of the oilfield was signed with Chinese Sinopec company already in 2008 and it is to be completed through three phases, in which production in the first phase will reach 85,000 b/d, and in the second phase it will amount to 180,000 b/d. He added that the field total oil production is expected to reach the level of 300,000 b/d, according to The Iran Project.
Meanwhile, Iranian Isfahan oil refinery has recently inked a memorandum of understanding (MoU) with South Korean Daelim company to enhance production procedures and optimize the facility.