Domestic Firm Raises Output at Iran’s Jufeyr Oilfield

Date: 13 October 2024 - 21:54

News ID: ۱۳۲۳۸۴

TEHRAN - Oil production has further increased in an Iranian oilfield where a domestic company has been in charge of development works for the past couple of years.
CEO of Pasargad Energy Development Company (PEDC) said on Saturday that the firm had launched a sixth well at Jufeyr oilfield in Iran’s southwestern province of Khuzestan.
Ahmad Mohammadi said that the new well will increase oil production at Jufeyr by 3,000 barrels per day (bpd).
Mohammadi said production from the new well will increase by another 1,000 bpd in the very near future, adding that the technicians were working to stabilize output from the well.
He said the company had mostly relied on equipment sourced from domestic suppliers to make the well operational.
The increase in production at Jufeyr comes more than seven months after the PEDC, a subsidiary of Iran’s Bank Pasargad, started pumping 50,000 bpd of oil from the field.
Jufeyr is located just 30 kilometers from Azadegan, the largest of several oil reserves to the west of Karun River which are shared between Iran and Iraq.
Iran has introduced plans to ramp up output from oilfields shared with Iraq as the Arab country continues to invest heavily on its side of the oil reserve.
The expansion of production at Jufeyr comes amid Iran’s growing efforts to rely more on domestic technology and know-how to develop its giant petroleum industry amid sanctions that restrict the presence of foreign companies in the sector.
Domestic contractors have been in charge of development works at oil and gas fields across Iran, especially in the oil-rich Khurzestan and in various phases of the South Pars, the world’s largest gas field which straddles the Iran-Qatar maritime border in the Persian Gulf.