Tehran Times reported that Iran will double output at the Yadavaran oilfield, which is associated with Iraq to 50,000 barrels per day by the calendar month of Dey, ISNA quoted the oilfield development plan’s manager Mr Hadi Nazarpour as said that.

He said that “The oilfield is currently producing 25,000bpd of crude oil. Some 55 wells will be drilled in the oilfield by the next month.”

Mr Nader Qorbani MD of Petroleum Engineering and Development Company said in May that “The first phase of the oilfield’s development plan is complete by 70%.”

He added that the oilfield’s output is projected to reach 300,000 bpd in 3 phases.

Early production started in February 2012 from the oilfield.

The oilfield is estimated to hold around 12 billion barrels of in-situ crude oil, some 12.5 trillion cubic feet of associated gases, as well as nearly 1.9 billion barrels of condensates.

Iran and the Chinese Sinopec signed a buyback contract in 2007 on the development of the Yadavaran oilfield.