TEHRAN- Oil extraction from Azar oilfield will reach 30,000 barrels per day (bpd)  in spring 2017, which corresponds to the first quarter of the current Iranian calendar year (March 21-June 21), ISNA reported.

The field’s oil production is planned to hit 65,000 bpd in the next Iranian calendar year (which will start on March 21, 2018).

In a ceremony attended by Iranian Oil Minister Bijan Namdar Zanganeh, early production from Azar oilfield started on March 14 with an output capacity of 15,000 bpd.

As there is still no processing installation at the place of this filed, its output is going to be sent to the processing facilities of Dehloran oil field through a 120-km pipeline, Shana reported.

With 2.5 billion barrels of oil reserve, Azar field is located in Iran's western region of Mehran along the border with Iraq.

The field is developed jointly by Oil Industries Engineering and Construction Company (OIEC) and Oil Industry Pension Fund Investment Company (OPIC) in a period of 55 months.

MA