Iran Starts Development Plan to Increase Oil Production in Hengam

Iran launched the development plan of Hengam oil field earlier this month in a bid to boost crude production in its Persian Gulf oil field.
The project was implemented with the aim of boosting oil production to 30 thousand barrels per day amid rising gas output respectively to 80 and 160 mcf/d in the next phases.

Development of the oil field by Iranian contractors, creating needed infrastructures in Qeshm region to facilitate development of Tosan, Taftan and Hormoz fields and having the lightest and the best quality (API 46 degree) among the Iran’s oil export basket are the main characteristic of the Hengam oil field’s development plan.

Iran’s Offshore Oil Company’s Director General Mahmoud Zirakchianzadeh had earlier said Hengam oil field had great potentials for development and IOOC is pursuing building its gas processing plant in two phases.

Straddled along the Iran and Oman borders, Hengam oil field is located 70 km off Iran’s shore in the Persian Gulf water in Hormuz Strait.

The oilfield came online for the first time in May 2011 with production of 4.000 barrels of oil per day. In place oil and gas reserves of the field are estimated at 700 million barrels and 2 trillion cubic feet respectively.