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February 19, 2008 Tuesday Safar 11, 1429





Iran begins production at giant oil field


TEHRAN, Feb 18: Iran has started pumping oil from its biggest onshore oilfield of Azadegan in the southwest of the country, a much delayed project that was originally to be developed with a Japanese partner.

“As of now, 20,000 barrels of light and heavy crude oil are being produced daily,” Seyfollah Jashn-Saz, director of Iran’s southern oil operations, told state television.

Azadegan, which has some 42 billion barrels of oil, was initially to have been developed with Japanese firm Inpex but the company effectively pulled out at the end of 2006 amid pressure to cut business with Iran.

The development of the field was then offered to Petroiran, a company controlled by the oil ministry. The coming on stream of the field had been expected but it was not clear exactly when it opened.

Oil Minister Gholam Hossein Nozari has said Iran is seeking to produce 4.2m bpd by March 19.—AFP






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