According to Pin, department of National Iranian Oil Company for exploration affairs reported that having analyzed three-dimension seismography data, a new drilling operation was made last year in Jofeir oilfield resulted in a 750-million-barrel-of-oil discovery situated in Fahilan oil-bearing geological formation at the depth of 4720 meters.

On this basis, by drilling at least one new oil well in the field, the volume of the reserve would rise to 1350m barrels of in-situ oil.

Oil discovered in Fahilan oil-bearing geological formation is light one with an API gravity of 34 and 38 degrees. The daily production capacity of well No. 4 of Jofeir Field is assessed about 2200 barrels a day.

The daily production capacity of the field was previously announced 25,000 barrels of oil, but the new discovery has increased the figure to 33000 b/d.

Jofeir oilfield development plan has been introduced in two phases. The first phase is expected to result in production of 15,000 bpd of oil by the next Iranian year (starts March 20, 2009) and the second phase the field would produce to the ceiling of 10,000 bpd by 2011.