Production from Iran’s Yadavaran oilfield has reached 112,000 barrels per day (b/d), according to Hadi Nazarpour, an official overseeing the field’s development, state-run Shana News Agency reports.
Production could increase to “135,000 b/d in the first phase,” Nazarpour said, as quoted by the Financial Tribune.
“Based on recent studies, the field’s in-place crude reserves were revised to more than 34 billion barrels from 12 billion barrels,” Nazarpour noted, according to the Financial Tribune.
Production from the field is relatively recent. According to the Financial Tribune, it came online in November 2016. Since that time, over 100 million barrels of oil have been extracted from the field, Shana reports.
The National Iranian Oil Company (NIOC) is seeking an international partner to develop the field, Nazarpour said, noting that production from the field could ultimately rise to 300,000 b/d after further investment, the Financial Tribune reports.
The oilfield is located in western Iran along the Iran-Iraq border.