TEHRAN, Oct. 16 (UPI) -- Drilling operations at the Azar oil field in southwest Iran could begin as soon as January, said the head of the national oil company Friday.
Seyfollah Jashnsaz, managing director of the National Iranian Oil Co., announced that drilling operations were expected within three to four months, the Fars News Agency reports.
Iranian officials say the field could produce as much as 55,000 barrels of oil per day. Figures reported by Fars said the field holds in-place reserves of as much as 2 billion barrels.
Jashnsaz said his Iraqi counterparts have conducted their own assessments on field development for its part of the field
"Based on information at hand, Iraq has begun operations for development of the field in its own soil but production of oil from the field has not yet started," he said.
He added his country has an agreement with Iraq to share information and basic activities on the oil fields that straddle the border.
The Azar field lies in Ilam province in western Iran.
