Nazarpour said early production from Yadavaran field started with 20,000 barrels in February 2011.
In the first phase of the field's development it should have yielded 85,000 bpd but now 100,000 bpd is extracted from it, which is 15,000 bpd more than the target set for the first phase. So, Iran is ahead of Iraq in terms of oil extraction from the field.
Commenting on the new model of oil contracts, Nazarpour said as driving force in economic development of the country under present conditions, oil needs presence of foreign investors. He said the new model of oil contracts can serve as a basis for import of capital and eventually expediting development of prioritized and joint fields.
Nazarpour referred to transfer of technology, exchange of technical know-how and further exploitation of domestic potential are among positive outcome of the international engagement.
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