Iran has started crude oil production from a new well(No. 12-03) of the Iran-Saudi Arabia joint Forouzan oil field (called Marjan in Saudi Arabia), the Executive Director of Iran's Petropars Operation and Management Company (POMC), Shamsaddin Mousavi said, Trend reports citing the company’s website.
The director said that a total of 3,379 meters of horizontal excavations were carried out at the mentioned well. According to calculations, the well has the potential to produce 1,000 barrels of crude oil per day.
Mousavi added that one well was drilled at the Forouzan oil field and handed over to the Iranian Offshore Oil Company (IOOC) for operation in the 2nd month of the current Iranian year (April 21 through May 21, 2022), and this is the second well that is handed over to the mentioned company for operation.
According to him, Iran's Petropars Company should drill and launch 26 wells at the Forouzan oil field by March 19, 2024. Work is underway under the program to put all wells into operation by the mentioned time.
The Forouzan oil field is located in the Persian Gulf, 100 km southeast of Kharg Island in the Bushehr Province (southern Iran). This oil field was discovered in 1966.
The field contains about 2.3 billion barrels of oil. Iran reportedly extracts about 40,000 barrels of oil daily from the field at present.