The objective of the development operation is to reach a final combined output of 190,000 barrels a day from the two fields, (100,000 and 90,000 barrels from Soroosh and Nowrooz respectively). Initial production from Soroosh in the first 24 months following the effective date of the contract would be 60,000 barrels per day. Soroosh has an estimated oil-in-place of 7.5 billion barrels. It is estimated that with the use of water injection, 65% of the reserves will be recoverable.
Nowrooz oil field has oil-in-place and recoverable reserves of 1.9 billion and 550 million barrels respectively.
|