Russian contractor raises output from Iranian oilfield
A Russian company involved in an oilfield development project in western Iran says that it has increased output from the field by 14,000 barrels per day (bpd).
CEO of ZN Vostok, a subsidiary of the Russian state-owned company Promsyrioimport, said on Wednesday that the firm had successfully launched a mobile desalter unit in Cheshmeh Khosh oilfield in Iran’s Ilam province.
Azamat Ismagilov said that the launch of the project had increased the total production of Cheshmeh Khosh to 114,000 bpd.
ZN Vostok started its project to drill 20 wells and install 22 pumps in Cheshmeh Khosh in 2020 with an initial investment of $170 million.
An official from the Iranian Oil Ministry said on Wednesday that the entire development project in the field is worth $3.1 billion, of which some $550 million had already been spent.
Nasrollah Zarei, who leads Iran’s Petroleum Engineering and Development Company (PEDEC), said that oil production from Cheshmeh Khosh would reach 120,000 bpd by the end of the calendar year to late March and would further increase in the next calendar year.
Zarei said the development project had created 2,000 jobs in the region, adding that the oilfield will employ 600 people on a permanent basis once it becomes fully operational.
Iran has mostly relied on domestic companies for the development of its massive petroleum sector since the United States imposed unilateral sanctions on the country in 2018.
However, contracts have been awarded to Russian companies to develop oil and gas fields in Iran amid growing energy cooperation between the two sanction-hit countries.
Discovered in 1964, Cheshmeh Khosh is located some 50 kilometers south of the city of Dehloran. In addition to its oil production, the field is currently supplying some 3.25 million cubic meters per day of natural gas to Iran’s gas processing facilities.
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