Tehran Times reported that 2 oilfields namely Sarvestan and Saadat Abad located in central parts of Iran will start production in the near future with the total projected output of around 15,000 barrels per day.

Mr Mehdi Fakour MD of the National Iranian Central Oilfields Company said that the fields have started early production. The output will finally reach 25,000 barrels per day. The two oilfields hold an estimated in situ reserve of 1.402 billion barrels of crude oil.

Mr Fakour said that Iran will start early production at the two oilfields by the next 3 months. To date, 10 wells have been drilled at the oilfields and two other will soon become ready for being injected with natural gas.

Mr Ahmad Qalebani MD of National Iranian Oil Company has said that the country’s daily oil and gas outputs should amount to 5 million barrels and 1.47 billion cubic meters by 2015.

Mr Rostam Qasemi oil minister of Iran said that the Iranian government should consider plans for the development of joint oilfields. The government should increase the budgets for the development of joint oilfields. The oil industry's infrastructure needs more than IRR 500 trillion of investment to achieve objectives of the 20 Year Outlook Plan."

Source - Tehran Times

(www.steelguru.com)