Balal Field Produced 15 Million Barrels Crude Over Past Year

Cumulative crude production from Balal field offshore Iran has reached 15 million barrels crude since inception of production from the field.

Based on the latest figures, the field has yielded 14,976,099 barrels crude from January 2003 to April 2004.

During the first month of preliminary production, the field produced an average daily amount of 11,387 barrels, which has reached 40,000 barrels now.

Cumulative production from Balal field reached about 1.238 million barrels in April 2004, indicating a daily average hike of 41,268 barrels crude.

Based on current projections, implementation of Balal field's development project will lead to production of 120 million barrels of crude from the field by 2015.