Iran to Up Forouzan Oil Production Capacity By 4,000 B/D

TEHRAN (Dow Jones Newswires), August 19, 2008

Iran's Forouzan Oilfield production capacity will be raised by 4,000 barrels a day, the Oil Ministry's Shana News Agency reported Tuesday, citing a senior oil official.

Esmaeil Bahadori-Nejad, deputy head of exploitation affairs for the Kharg Oil Region, said the oil field's rate of production was already increased during the last two months by 5,000 barrels a day to reach 46,000 barrels per day, Shana said.

"Aiming at raising the oil production rate in Kharg region, Iranian Offshore Oilfields Company has provided some feasibility studies and technical operations on the region's wells 1 and 2," Shana cited Bahadori-Nejad as saying.

Shana did not specify by when the 4,000 barrel-a-day production capacity increase would be complete.

The development of the Forouzan field, which is shared by both Iran and Saudi Arabia, is considered to be a major oil project in the region, Shana said.

Saudi Aramco has been developing the oil field, which Saudi Arabia calls Marjan, with the American firm McDermott International Inc., according to Shana. 

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