Engineering studies over North Azadegan oilfield indicate that the field holds 30% more crude oil in its despite than was previously estimated in the field's 2008 master development plan (MDP).
Based on the master plan, North Azadegan field will be developed in 2 major phases, he said.
Asadi said the latest estimates show that the field holds 30% more crude oil than it was previously presumed in the MDP that was developed in 2008.
Drilling operations over 100 wells have started nearly a year ago and 60 of the wells are finalized with some being productive.
The field was first decided to be developed by a Chinese developer, CNPCI, but Iran expelled the contractor from North Azadegan for its failure to respect its obligations.
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