Results of Iran’s major oil projects in July
Iran has prioritized seven major oil fields for development - in West Karoon Block and South Pars gas field’s oil layer. During the first seven months of 2017, Iran launched Azar field and South Pars’ oil layer, while the statistics, prepared by Iran’s Oil Ministry and seen by Trend, indicate, that the other five fields, placed in West Kroob Block were also in development. Currently, Iran produces 20-25 thousand barrels per day from the oil layer of South Pars, while the production level at Azar field reached 15,000 b/d. Iran plans to double the oil output of South Pars and increase the Azar’s output to 65,000 b/d. Azar field, whith 2.5 billion barrels of in-situ oil reserves, and 16 percent recovery rate has been completed by 69.92 percent in July, compared to 68.52 percent in June. One of the major projects in Iran’s upstream oil sector includes the first phase of five fields (West Karoon Block) in Iranian western regions with 66.7 billion barrels of in-situ oil reserves, jo