2020 1 October Fa

Petro Pars Negotiating on Ferdowsi Field Development

PEDEC executive for heavy oilfields development said serious talks are under way to develop Ferdowsi, Zagheh, Kuh-Kaki, Mund and Bushgan fields adding, Saipa Investment Company has been excluded from the negotiations due to the company’s failure on developing Ferdowsi Oilfield.

 “Currently, talks are under way with Petro Pars Company on Ferdowsi oilfield development and we have signed a memorandum of understanding in this regard”, Bahman Samimi was quoted as saying.

Samimi emphasized on the completion of well no.3 at the aforementioned field and said drilling and 3D seismic operations of the well have been completed, estimating over 35 billion barrels of in-situ oil in the area.

Hinting at the possibility of early production by 10 thousand barrels a day and daily production of 80 thousand barrels of oil from the field, he reiterated Ferdowsi oilfield is the largest heavy oilfield in the Middle East, having four reservoir layers at its disposal.

The executive for heavy oilfields development at the Petroleum Engineering and Development Company referred to the inclination of Russian companies to develop Zagheh field and said well no.1 of the field had been drilled and abandoned many years ago and now we are trying to get the required data on the field by drilling well no.2.

“Implementation of 3Dsiesmic operation together with data processing and interpretation, and PSTM and PSDM processing operation are some of the activities which have been carried out at Zagheh field”, Samimi said, adding, negotiation with a  European company  is under way to develop Kaki, Mund and Bushgan field.

On the three above mentioned field he said they are forecasted to be fully developed at the second phase. Early production and daily production from the fields at the first phase would stand at 5 thousand barrels and 9 thousand barrels respectively, and once the second phase is completed the figure is set to rise by 11 thousand for early production and 20 thousand barrels of oil production per day.

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14 / 12 / 2011