Iran,Iraq eye issue of non-developed joint oilfields

Iran is in talks with Iraq to tap non-developed joint oilfields.

Ali Majedi, Iranian deputy oil minister in charge of international affairs, said political and economic follow up are required for this issue to bear fruit, Iran’s IRNA news agency reported on Aug. 18.

Iran has 18 joint oilfields, four joint gas fields, and six joint fields which hold both oil and gas. Fifteen joint fields are located in the Persian Gulf and 13 fields are onshore.

Majlis Research Center reported in January 2013 that the total extraction volume of Iran’s neighbors from the joint oil and gas fields is nine times more than Tehran’s share.

Dehloran, West Paydar, Naft Shahr, Azadegan, Yadavaran, and Azar are the joint oilfields between Iran and Iraq. Iran daily produces 130,000 barrels of oil at the mentioned fields, while Iraq produces some 295,000 barrels.

Iran shares Forouzan, Farzad B, and Esfandiar with Saudi Arabia. Iran daily produces 42,000 barrels of oil at the fields, and Saudi Arabia produces some 450,000 barrels.

Iran and the United Arab Emirates also share Salman, Nosrat, and Farzam oilfields, along with two other little fields named Salam and Sater. The UAE produces some 136,000 barrels of oil at the mentioned fields, while Iran produces 56,000 barrels at the same fields.

Iran also shares two gas fields with Kuwait and Oman. Iran’s output at the joint Hengam oilfield currently stands at 20,000 barrels, which is approximately two times more than Oman’s share.

Iran plans to attract some $150 billion in oil and gas production projects by 2019.