By OGJ editors
HOUSTON, Mar. 6 -- Paris-based TotalFinaElf SA is drilling three additional production wells in Balal field in the Persian Gulf off Iran. The wells are expected to enter production by mid-2003, the company said.
Meanwhile, production began in January from two wells in the field 100 km south of Lavan Island, following a $310 million development program (OGJ Online, Jan. 13, 2003). Those wells are producing a total of 20,000 b/d of oil, which is being exported from the offshore platform through subsea pipeline facilities to processing facilities operated by state-owned National Iranian Oil Co. (NIOC) on Lavan Island.
Production is expected to increase to 40,000 b/d by March 2004 when a total of 10 wells will be on line.
TotalFinaElf, which operates the 390 million bbl field under a buy-back contract signed with NIOC in April 1999, has a 46.75% interest in the field. Other partners are Italy's ENI SPA 38.25% and Calgary-based Bow Valley Energy Ltd. 15%.