Iran boosts output from Hengam oil field sevenfold

Managing Director of the Iranian Offshore Oil Company (IOOC) Mahmoud Zirakchianzadeh said on Tuesday that the oil extracted from the field is among the high-quality crudes in the country with its API gravity measured at 46.

He also described the construction of a 16-inch subsea pipeline between Laft and Pahl ports in Qeshm Island by means of horizontal drilling technology as one of the greatest achievements regarding the development of the oil field.

Zirakchianzadeh noted that Hengam oil field supplies a portion of feedstock to Bandar Abbas Refinery, adding that a 75-kilometer pipeline will carry the processed oil from Gorzin district in Qeshm Island to Bandar Abbas Refinery.

“In the past, the feedstock needed for Bandar Abbas Refinery used to be transferred from hundreds of kilometers away to the refinery, and between four and five dollars were spent on each oil barrel. The transfer of the refinery feedstock through the pipeline would however save between 70 and 80 million dollars,” the official said.

Located in the Strait of Hormuz and in the east of the Persian Gulf, Hengam oil field is estimated to hold 700 million barrels of crude oil and 2 trillion cubic feet of natural gas.

HK