The National Iranian Oil Co. (NIOC) plans to add 39.5 million bbl cumulative over 10 years in Yaran joint oilfield by signing a development contract with Persia Oil and Gas Industry Development Co. (POGIDC).
Development of the field, which lies 130 km southwest of Ahvaz and west of South Azadegan field and is shared with Majnoon field in Iraq, has been pursued in south and north sections.
South Yaran was previously developed by Petroleum Engineering and Development Co. (PEDEC), and North Yaran was developed by POGIDC. The two contracts have been merged under POGIDC.
The project includes drilling of six new wells (three in North Yaran and three in South Yaran), drilling a descriptive well, drilling a well for water injection, workover operations in five wells, equipping 27 production wells in Sarvak Layer with ESP pump, constructing and upgrading ground facilities, conducting laboratory studies, and designing the enhanced oil recovery method.
Direct capital expenditures will be $227 million and operating costs will be about $236 million. All financial resources will be provided by POGIDC.
