Speaking to PIN, Mahmoud Ebrahimi added the production is running through the reserve’s natural pressure saying that some of the wells exist in the area, are in water control phase.He also cited Balal oilfield at present produces 17,000 b/d, rising to 20,000 b/d in near future.
The amount of decline in pressure observed for the country’s reserves located in Persian Gulf is at about 10 percent per annum.
A consortium including Elf Petroleum, B.V., and Agip companies was in charge of the implementation of Balal oilfield development plan aimed to produce 40,000 b/d at a $239.193mm cost that came on stream April 2004.
The Belal oil field is located approximately 100 km southwest of Lavan Island, west of South Pars gas field at proximity of water border with Qatar.