Project Profile
Value: US$600 million
Location: Iran
Reserves: unknown
Start-up Year: March 2016
Estimated Production: 50,000 bpd
Persia Oil & Gas Company has started preliminary work at Iran’s South Yaran oilfield under a ministerial decree exempting it from the normal tendering rules, aiming to drill more than 20 wells for an eventual production of 50,000 barrels per day. The South Yaran oilfield has a potential of 1.1 billion barrels of crude oil. The field is projected to produce 20-25 thousand barrels of oil per day. Southern Yaran oil field is connected to some layers of Azadegan oil field. The output from South Yaran will be piped to processing plants at the nearby Jofair field developed by Chinese companies. A US$600 million contract was also signed In 2012 between PEDEC on behalf of NIOC and Persia Energy Company for development of northern part of the field. The South Yaran oilfield will come on-stream by March 2016 with 50,000b/d of crude oil output. The development of the field showed a physical progress of almost 40 percent by mid-June.
Operators:
NIOC
Persia Oil & Gas Industry Development Co. (POGIDC)
Contractors:
PEDEC: US$600 million contract for development of northern part of the field
National Iranian Drilling Company (NIDC): Contract for eight drilling rigs in the field and four more rigs to be moved there by 2016