Director General of Arvandan, Salbali Qarimi, said that a deal on development of the Karun West Field will be signed before September 2012 and preparations for work at the field will start in a month, Trend reports.
Extraction of hydrocarbons will also start at Sepehr, Sohrab, Jafir and Susangend. Output at Yadavaran and Jafir will increase.
Arvand has about 150 million barrels of extractable oil. The field is worth $10 billion at an oil price of $100 per barrel.
The Iranian construction company signed a contract with the National Iranian Oil Company worth $135 million a few days ago to develop the Arvand Field. Up to 5,000 barrels of oil can be extracted at the field at the first stage, then 20,000 barrels in the future. Development of the oil field will take 18 months.
