Yadavaran Field oil field is one of the
NIOC Recent Discoveries
Proven oil reserves in Iran, according to its government, rank fourth largest in the world at approximately as of 2013, although it ranks third if Canadian reserves of unconventional oil are excluded. This is roughly 10% of the world's total pro ...
which is located in
Khuzestan
Khuzestan Province (also spelled Xuzestan; fa, استان خوزستان ''Ostān-e Xūzestān'') is one of the 31 provinces of Iran. It is in the southwest of the country, bordering Iraq and the Persian Gulf. Its capital is Ahvaz and it covers ...
,
Iran
Iran, officially the Islamic Republic of Iran, and also called Persia, is a country located in Western Asia. It is bordered by Iraq and Turkey to the west, by Azerbaijan and Armenia to the northwest, by the Caspian Sea and Turkmeni ...
.
The name is new, as the field is made up of two former fields, Koushk (discovered in 2000) and Hosseinieh (discovered in 2002). After researchers discovered that the two fields were actually connected, the field was renamed as the Yadavaran Field.
The field is estimated to have reserves of up to 17 billion barrels (2.7 km³) of oil, with 3 billion barrels (0.5 km³) considered to be recoverable.
On October 29, 2004, Iran negotiated a $70 billion deal with
Sinopec
China Petroleum & Chemical Corporation (中国石油化工股份有限公司) or Sinopec (), is a Chinese oil and gas enterprise based in Beijing. It is listed in Hong Kong and also trades in Shanghai.
Sinopec Limited's parent, Sinopec ...
, giving the Chinese company a 51% stake in the field's development. As part of the deal, China agreed to buy 10 million metric tons of
liquefied natural gas
Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4, with some mixture of ethane, C2H6) that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport. It takes up about 1/600th the volu ...
(LNG) from Iran per annum for 25 years.
In December 2007, NIOC and Sinopec signed the final agreement for development of Yadavaran oil field. Based on the contract field will reach to the of production capacity. Sinopec will be operator with a 51% stake in the project and NIOC holding the remaining interest. Total project cost at around US$2 billion.
In a third phase the field is expected to reach of production capacity.
The field will be developed under an enhanced Iranian buyback contract. The most significant revision in terms from earlier versions is that the partners will only agree the target capital cost of the development following receipt of construction tender submissions. This should reduce the contractors’ exposure to value erosion through cost inflation.
The oil field is currently at an early production of after 16 months development by the Chinese contractor.
See also
*
Azadegan
*
NIOC Recent Discoveries
Proven oil reserves in Iran, according to its government, rank fourth largest in the world at approximately as of 2013, although it ranks third if Canadian reserves of unconventional oil are excluded. This is roughly 10% of the world's total pro ...
*
Iran Natural Gas Reserves
According to the Iran Petroleum Ministry, the proved natural gas reserves of Iran are about or about 17.8% of world's total reserves, of which 33% are as associated gas and 67% is in non associated gas fields. It has the world's second larg ...
*
South Pars
The South Pars/North Dome field is a natural-gas condensate field located in the Persian Gulf. It is by far the world's largest natural gas field, IEA, World Energy Outlook 2008 - Chapter 12 - Natural gas resources and production prospects, p.298 ...
*
North Pars
North Pars Gas Field ( fa, میدان گازی پارس شمالی) is one of the biggest independent gas fields of the world. This field which was discovered in 1967 is located some 120 kilometers south east of Bushehr province in water depths o ...
*
Golshan Gas Field
The Golshan gas field is one of the NIOC Recent Discoveries which is located at approximately 180 km south east of Bushehr, 65 km offshore the Persian Gulf. The volume of gas in place (GIP) of the field is estimated at 42 to 56 TCF.POGC Websi
On ...
*
Ferdowsi Gas Field
The Ferdowsi Gas Field is one of the NIOC Recent Discoveries, located at approximately 190 kilometers southeast of Bushehr, 85 kilometers off the coast of Iran, in the Persian Gulf.
The volume of gas and recoverable gas in this field is estimat ...
*
Persian LNG
*
Al-Fakkah Field.
References
{{Coord, 30.988352, N, 48.042355, E, source:cswiki_region:IR, format=dms, display=title
Oil fields of Iran
Buildings and structures in Khuzestan Province
Geography of Khuzestan Province