Iran announced plans to develop Forouzan oil field, the biggest joint oil field with Saudi Arabia in the Persian Gulf.
The National Iranian Oil Company (NIOC) started developing Iran’s biggest offshore oil field in the Persian Gulf which is shared with Saudi Arabia.
The operation has begun by sending the first jacket related to the development of Forouzan oil field to the Persian Gulf on Sunday.
The huge structure made by a special jacket manufacturing yard in Iran’s southwestern port city of Khorramshahr, weighs about 4,000 tons and is carried by a special vessel. If climatic conditions are good, it will be installed by late May.
The second jacket related to the Forouzan oil field development project will be sent to the offshore field within the next few weeks.
The main goal of the Forouzan oil field development project is to extract more than 300 million barrels of crude oil in the next 25 years.
The field will also yield about 250 million cubic feet per day of natural gas which will be transferred to Kharg Island via an undersea pipeline.
Forouzan oil field, in the Persian Gulf, is shared with Saudi Arabia. Extraction of oil from the field started in the early 1970s and the field produced about 550 million barrels of oil by the end of 2002.
In relevant report, Iran announced that the country plans to increase its oil output in Persian Gulf oil fields.
Managing Director of the National Iranian Offshore Oil Company (NIOOC) Mahmoud Zirakchianzadeh reiterated that the NIOOC is considering implementation of new plans to increase oil production from the Persian Gulf oil fields of Reshadat, Forouzan and Hendijan.
“When these new plans become operational by the end of the current (Iranian calendar) year, Iran’s overall crude production capacity in the Persian Gulf will rise by about 100,000 bpd,” he said.
According to the development plan of the Reshadat oil field, NIOOC will drill five developmental wells. The company is also building the undersea pipeline of the field and supplying electricity to its oil production platform.
