An official at the Iranian Offshore Oil Co. (IOOC) says the company has succeeded to increase crude oil production from Salman oil field in the Persian Gulf, which Iran shares with the United Arab Emirates (UAE).

Sanctions on Iran’s oil production are due to be lifted after the country and six world powers finally reached a deal over the country’s nuclear program last month.

The agreement, reached after two years of discussions, following a 12-year stand off and increasingly tough sanctions against the Islamic Republic, will see Iran curb its nuclear program in return for the easing of sanctions.

Abbas Rajab-Khani, official in charge of the IOOC’s operations in Lavan region said on Tuesday that the production hike on Salman came after the company took steps for the development of the field.

According to the official, drilling new wells and repairing inactive wells for new production were among major steps taken by the company to develop the offshore field.

Rajab-Khani stated that in line with the company’s plan, three drilling rigs are currently operating in the field, drilling new wells or repairing wells that are not currently producing oil.

He said five new wells have been already drilled in the field, adding that after completion of the fifth well, production from the joint field has increased by 7000 b/d.

During recent years, Iran has been taking steps to development hydrocarbon fields it shares with neighboring countries, especially those located in the Persian Gulf.

Salman oil field is located near the Iranian island of Lavan in the Persian Gulf. About 70% of the field is owned by Iran and the remaining 30% is under ownership of the UAE.

In-place reserves of the field have been estimated at about 4.5 billion bbl, with 1.6 billion bbl recoverable.

Source: www.oedigital.com

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