Iran seeking outside help for heavy oil Ferdowsi development

National Iranian Oil Company (NIOC) is looking for assistance to develop the giant heavy oil Ferdowsi field in the Persian Gulf, according to news service Shana.

The field, discovered in 1966, also contains gas in its Dalana and Kangan layers, in 1966.

The location is 88 kilometres (55 miles) offshore, west of the South Pars gas field and close to the Golshan gas field.

Two wells were drilled, the second to assess the potential of the gas layers.

Swiss company Adax’s subsequent studies suggested in-place oil of 35 Bbbl, with a potential recovery rate of 6%.

NIOC later instructed the Petroleum Engineering and Development Company (PEDEC) to undertake 3D seismic testing, drill two further appraisal wells, and to take samples from the crude oil layers in order to submit a renewed MDP.

A third well was drilled in April 2010, with analysis confirming large volumes of heavy crude with varying API gravities in five subsurface layers (Bourgan, Daryan, Gadvan, Fahlyan, and Sourmeh).

According to Shana, there is a new impetus to develop Ferdowsi by applying technology for heavy crude recovery in fractured carbonated reservoirs.

The field was offered to investors during a conference in Tehran two years ago to unveil the new-model Iran Petroleum Contract (IPC).

Full development would likely take five to seven years: NIOC envisages a buyback arrangement for the development.

PEDEC is said to be in talks with foreign companies which would need to sign memoranda of understanding before receiving more data. The current plan is to produce 10,000 b/d during an initial phase, rising above 300,000 b/d in subsequent phases.

Source: Offshore Magazine