The Managing Director of Iranian Offshore Oil Company (IOOC) said that upon the completion of the installation project of the giant offshore rigs, drilling and repairing of oil wells has started in the Forouzan joint oilfield with the purpose of increasing oil extraction.

Alireza Salmanzadeh said on Sunday that installation of the rig this oilfield, ddrilling and repairing 26 oil wells, and an increase of production to 23,000 barrels.

He termed Forouzan joint oilfield development project as one of the most important ones underway by the National Iranian Oil Company because to its significance in maintaining and increasing production levels.

Recently, Salmanzadeh had said that Iran has successfully installed a giant oil drilling platform at Forouzan Oilfield.

According to the Petropars official website, Forouzan Oil Field is located 100 kilometers South-East of Khark Island in the Persian Gulf region and joint Marjan Oil Field of Saudi Arabia.

The maintenance and revamping of production capacity of the project is conducted by the Iranian Offshore Oil Company (IOOC) and an Iranian consortium comprising Petropars and ISOICO.

The subterranean section of this project includes 12 new wells, 11 wells in need of repairing and 3 re-entry wells, while its surface section consists of 3 sea pipelines measuring 27 km, plus fabrication and erection of two new platforms and cabling of four fiber optics.

This contract the value of which amounts to nearly Euro 290 million can diversify the scope of activities and operations and will expand the chain value of Petropars Group, resulting in the growth and expansion of domestic technical capability of Iranian contractors.

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