An economic feasibility report by the Department for Consolidated Planning of National Iranian Oil Company (NIOC) has found that development of the independent field would not be cost-effective.
NIOC was commissioned the development of Jofair field in 2009 under a 510-million-dollar buy-back deal for the production of 25,000 b/d.
The field started early production in February 2011 with a daily output of 2,750 barrels.
As more wells were drilled, it was found that development of this field is not an economic project.
So far, more than two million barrels of crude oil have been recovered from this field.
Your Comment