Hadi Nazarpour said a master development plan has been finalized for development of the field requiring 105 wells to be drilled for recovery of the amount in its second phase development.
He said once all three phases of development are completed, the field is expected to produce 300,000 b/d of crude oil.
Shared with Iraq, Yadavaran oil field contains 31 billion barrels of oil in its reserves, Nazarpour said, adding the field may develop further phases in the future.
Iran has already started early production from the field and has so far extracted 50 million barrels of crude from the field. More than 40mb of the recovered crude were withdrawn during the past 24 months.
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