Iran has begun first oil production from North Yaran field shared with Iraq after years of delay. The development manager of the field, Arash Baqerzadeh, said that the production from the field has begun with 30,000b/d on the back of 10 wells drilled as of the time of the report, according to Press Tv.
Iran has five joint fields with Iraq, which include North Azadegan, South Azadegan, North Yaran, South Yaran and Yadavaran. It is expected that the combined output from North and South Yaran, North and South Azadegan, and Yadavaran, would reach 700,000b/d by 2018/2019, reported Oil Price News. Currently, the two operating fields, Yadavaran and North Azadegan, yielded 175,000b/d. The combined reserves of the five fields are estimated at 64b barrels of crude.
Iran prioritizes the development of jointly-owned oil and gas fields which are being dried out by Iran’s neighbors, including Yaran, Azadegan and Yadavaran. The North Yaran oil field is located approximately 130km west of Ahvaz, the capital of the resource-rich Khuzestan province. While Azadegan is the world’s third largest oil field with in-place reserves of about 33.2bb and recoverable resources of about 6bib. South Azadegan holds in-situ reserves of over 25bb, of which 2b are recoverable.