Project Profile
Value: US$1,000 million
Location: Southwestern city of Abadan
Start-up Year: 2018
Potential reserves: 30 billion barrels of oil
A discovery near Abadan with potential reserves of 30 billion barrels of oil in place. Average recovery factors are between 20 and 50 percent of oil in place, so the Arvand-Kenar field could boost Iran’s proven reserves by as much as 15 billion barrels.
One exploration well has already been completed at Arvand-Kenar, and two more were under way.
Operator:
National Iranian Oil Company: Operator with 100% interest
Contractor:
Iranian Offshore Engineering & Construction Company (IOEC): Early production phase