Iran increases oil production from joint field with Saudi Arabia
The CEO of Petropars Oil Company, Shamsuddin Mousavi announced on Monday that drilling of the second oil well of Forouzan Oilfield is being completed, therefore Iran increases oil extraction from Forouzan Oilfield as a joint field with Saudi Arabia.
According to Petropars Oil Company, Mousavi said that oil well number 12-03 has been drilled and oil production from this oil well is started.
He added that his operation has been completed and according to the Seabed conditions, 950 meters of its 3,379 meters length is being horizontally drilled.
Mousavi said that based on the initial capacity of the oil well, 1,000 barrels of oil will be extracted per day.
Forouzan Oilfield is located 100 kilometers Southeast of Khark Island in the Persian Gulf region and joint Marjan Oilfield of Saudi Arabia.
The Saudi Arabian portion of the field is known as the Marjan Field, which is being expanded by Saudi Aramco.
More than 80 percent of the hydrocarbon reserves of the field lie in the Saudi Arabian waters.