Official: Alvand Oilfield Output To Double By March 2015

Tehran, Sept 25, IRNA - By digging 11 new pumping oil wells and equipping other wells with pumps, Alvand oilfield’s output will reach 22,000 bpd from the current 11,000 bpd by March 2015, said an official. Sadeq Tavassoli, the deputy head of Nasr oil platform, added, “Alvand oilfield has 11 wells and should be equipped with pumps as their pressure has dropped.” According to him, the field contains 1.7 million barrels of in-place oil reserves. Tavassoli said the project will become operational by March 2015. The first buyback contract on development of Alvand oilfield was signed between Iranian Oil Ministry and French Total S.A. in 1998. He noted up to 20 million feet of associated gases are burned in the oilfield that will be transferred to Siri Island’s LNG plant. Nasr oil platform is located 14 kilometers off Siri Island. It extracts crude from Alvand, Dena, Sivand and Nosrat oilfields and transfers it to the island’s infrastructure via a 33km 16-inch pipeline. Located 50km west of Siri Island, Alvand oilfield has two platforms. The field’s has both production and horizontal wells. Iran has 137.6 billion barrels of proven oil reserves and 29.6 trillion cubic meters of proven gas reserves. The country’s total in-place oil reserves have been estimated at more than 560 billion barrels. Heavy and extra-heavy varieties of crude oil account for roughly 70-100 billion barrels of the total reserves./end