Rise in Hendijan Oil Field Production

EghtesadOnline: The wellhead Platform 7 of Hendijan Oil Field in the Persian Gulf was installed late on Monday, managing director of Iranian Offshore Oil Company, operator of the field, said.

News ID: ۷۵۱۱۶۱

01 October 2020

Weighing 1,000 tons, the platform is designed to produce 10,000 barrels per day from Hendijan field, Alireza Salmanzadeh was reported as saying by ILNA.

Last week the wellhead Platform 8 had been installed. “Both platforms were built by our engineers and experts at the Iran Shipbuilding and Offshore Industries Company in Bandar Abbas, Hormozgan Province,” he said.

Prior to the installation of the two platforms, Hendijan field was producing an average of 30,000 barrels of crude a day.

“Now with the new platforms operational, production capacity of the field has increased by 20,000 bpd.”

One of the richest natural oil reservoirs in Iran, Hendijan field is located northwest of the Persian Gulf, west of Bahregan District in Bushehr Province.

The oil produced in Hendijan is transferred to Bahregansar platform via a 10km pipeline for preliminary treatment and refining.

The IOOC is affiliated to the National Iranian Oil Company, which is in charge of Iran’s offshore oil and gas projects.

Oil production has reduced as Iran faces restrictions in exports due to the tough US sanctions.

US president, Donald Trump, withdrew from the landmark Iran 2015 nuclear deal in 2018 and imposed new economic sanctions, mainly targeting the key oil, banking and shipping sectors in what he has dubbed “maximum pressure” to force Tehran to sign a new “comprehensive agreement”.

Evading US Sanctions

According to data from S&P Global Platts, shipments of Iranian oil fell to as low as about 200,000 bpd after the sanctions took effect while before that, in early 2018, Iran was exporting 2.5 million bpd.

Tehran has been trying to evade the sanctions and sell oil by whatever means possible. Iran is reported to have exported nearly 1.5 million bpd of oil and condensates this month, according to recent data released by TankerTrackers.

Iran continues to develop its massive oil and gas sector despite American hostility and the plunge in exports.

Expansion activities have continued despite dismal global demand and falling prices due to the spread of the coronavirus and universal lockdown measures to fight the deadly disease.

Authorities say higher production would meet growing domestic demand while it would ensure a quick return to international markets when US pressure tactics end.

Oil Minister Bijan Namdar Zanganeh earlier said Iran can get back to its pre-sanctions oil production level “within three days after the US restrictions are lifted.