Economy of Resistance: Production and Job Creation
2017 20 November Fa

Development Project of Belal Oil Field

Geographical Location

Balal Oil Field lies about 100 kilometers to the southwest of Lavan Island. Its geographical coordinates are 26° 19’ North and 52° 32’ East. It is located in the Persian Gulf, close to Iran-Qatar marine border.

Main Objectives

The producible crude oil of the reservoir is estimated to be some 117 million barrels. Injection of 50,000 barrels of water will reward 40,000 barrels of crude oil per day. Drilling injection and production wells is among the activities to reach the above objective.

Main Contractor(s)

ELF Petroleum Iran with 46.75% share, Bow Valley Iran Ltd. with 15% share and AGIP Iran B.V. Company with 38.25% share

Key Contractual Dates

Start of the project: March 1999

Completion of the project: May 2003

11 / 3 / 2017