TEHRAN - Iran has added 60 new wells to boost production capacity in the South Azadegan oil field, which the country shares with its neighbor Iraq, the head of the National Iranian Oil Company (NIOC) announced.

Mohsen Khojasteh-Mehr said South Azadegan field's production capacity has seen a significant increase with the addition of 60 new wells over the past year, reaching a current production level of 120,000 barrels per day (bpd). 

He pointed out that development plans have been finalized for all of the country’s joint fields, and programs are underway to sign a contract to develop two additional joint fields by March 20.

In July 2020, a consortium of Iranian companies including Petropars signed a deal with NIOC to raise Azadegan field’s output capacity to 320,000 bpd from 140,000 bpd within 30 months.

EF/MA