Project Profile
Value: Undisclosed
Location: Iranian sector the Caspian Sea, Iran
Area: unknown
Reserves: 2 Bbbl (with a 25% recovery rate)
Depth: reservoir depth of 1,600 m (5,249 ft)
Start-up Year: -
Khazar Exploration and Production Co. (KEPCO) has resumed exploration in the Iranian sector the Caspian Sea on the Sardar-e-Jangal field. According to Iranian news service Shana, a 16-in. liner is now installed in the second well, which is currently at a reservoir depth of 1,600 m (5,249 ft). Sardar-e-Jangal is thought to hold in-place oil of 2 Bbbl, with a 25% recovery rate.The new oil reserves were discovered by the Amir Kabir semi-submersible drilling rig in the course of exploration operations on Sardar-e Jangal gas field in the deep waters of the Caspian Sea on May 10. The oil reserves of the field rank very high in terms of the API (the American Petroleum Institute gravity index). The quality of crude oil is determined based on the API degree. Oil with an API gravity of between 40 and 45 commands the highest prices. Early estimates had put the field’s oil reserves at 8-10 billion barrels.
Operators:
Khazar Exploration and Production Co. (KEPCO): Operator with 100% interest
Contractors:
North Drilling Company: Drilling services contract using the Amir Kabir semi-submersible drilling rig