The CEO of Pasargad Exploration, Development and Production Company Saeed Shaad made the remarks on Wednesday and said, “According to Flowing Tubing Plug (FTP) work description, a number of 12 wells were drilled. Relying upon the assistance of the Almighty God, all wells are ready for exploration and primary production.”
Suitable ways have presently been paved for the initial production of 21,000 barrels of oil per day (bpd), he emphasized.
The development plan of this giant oilfield has been made within the framework of the new upstream contracts, he said, adding that more than $330 million has so far been invested for launching this project, the rate of which would increase by $440 million in the first phase.
He put the total amount of investment made for completing all phases of this project at over $2.8 billion.
This giant project has been launched in cooperation with the CEO of the National Iranian Oil Company (NIOC), able manpower of Pezhvak Energy Company, Tadbir Drilling Development Company, etc.