Iran Press/ Iran News: Accompanying the minister on this one-day visit were Mohsen Khojastehmehr, the National Iranian Oil Company (NIOC) representative, and Abouzar Sharifi, Managing Director of Petroleum Engineering and Development Company (PEDEC). During this visit, President Raisi officially inaugurated the Sepehr and Josfeir oil fields development project.
The first phase of the Yadavaran oil field development project, with a daily production capacity of 110,000 barrels, was completed by Chinese company Sinopec in November 2016. Despite initial plans for Sinopec to continue with the second phase of development, discussions were halted by a previous oil minister.
Following a six-year hiatus, PEDEC resumed Yadavaran's development operations in February 2023 with support from NIOC. With a $400-million credit line in place, production from the second phase is expected to reach 42,000 barrels per day through drilling 24 wells.
Significant progress has been made in collecting flare gases from the Yadavaran oil field, with over 98 percent now being sent to the NGL 3200 plant. Previously, flare stacks burned a large portion of associated petroleum gas (APG) until January 2023 when gas delivery to the Persian Gulf Hoveyzeh Gas Refinery (NGL 3200 plant) commenced as operations at the facility ramped up.
Thanks to continuous efforts by PEDEC employees, downstream units have been completed and gas compressors are now operational. This has enabled around 120 million cubic feet (mcf) of gas to be transmitted to the NGL 3200 plant while injecting approximately 20 mcf into the field and shutting down flares.
206
Read More:
Raisi: Iran Ranks Second in World for Sponge Iron Production
