Iran has commenced oil production from North Yaran oilfield with an output of 30,000 barrels per day with the 10 wells drilled so far, the project's development manager said, Trade Arabia reports.
Iran's priority is to develop jointly-owned oil and gas fields which are being dried out by Iran's neighbours, including Yaran, Azadegan and Yadavaran.
Iran has five joint fields with Iraq, which include North Azadegan, South Azadegan, North Yaran, South Yaran and Yadavaran.
Azadegan is the world's third largest oilfield with in-place reserves of about 33.2 billion barrels and proven reserves of about 6 billion barrels. South Azadegan holds in-situ reserves of over 25 billion barrels, of which 2 billion are recoverable.
