Tehran-Sana
Iranian Oil Minister Begin Zangana announced that estimates of the volume of oil recoverable from the Azadkan joint field with Iraq increased by 3.5 billion barrels after an innovation accomplished by experts from the University of Tehran.
Zangana revealed in his meeting with the presidents and professors of the contracting universities in the oil industry projects that the experts devised a way to guarantee the possibility of increasing the rate of extraction from the Azadkan field by 10 percent compared to the previous rate that ranged between five and six percent and this success means an addition of about 3.5 billion barrels to the reserves recoverable from Field.
This disclosure comes after Zangana announced yesterday that the Iranian government company, Petrobars, was developing the 11th phase of the South Pars field following the withdrawal of the French companies, Total and CNBC from the project, on the back of re-imposing the US embargo on Iran.