TEHRAN (FNA)- Belarusian-Iranian Belpars Petroleum Company Ltd (BPC) was handed control over the Fahlian oil layer in addition to other layers of the Jufeyr (Jofeireh) field in Iran’s oil-rich province of Khuzestan near the Iraqi border.
The two sides reach an agreement on the issue on October 14, when an Iranian delegation led by Seyfollah Jashnsaz, managing director of the National Iranian Oil Company (NIOC), was on a visit to Belarus, the press office of Belarusnafta, Belarus’ national oil company which holds 50 percent in BPC, told BelaPAN.
The involvement of the Fahlian layer in the field development project will allow BPC to increase daily oil production from 25,000 to 40,000 barrels.
In September 2007, Belarusnafta and PetroIran Development Company signed a buy-back contract with NIOC to cooperate in a $500-million two-phase project to develop the Jufeyr field, which is located 50 miles southwest of the provincial capital city of Ahvaz.
The Jufeyr field was discovered in 1976. It is estimated to contain more than 2.1 billion barrels of oil.