Foroozan is a producing conventional oil field located in shallow water in Iran and is operated by Iranian Offshore Oil. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block Foroozan. Buy the profile here.
An expansion project is associated with the Foroozan, namely the Foroozan Development Phase 2. This project is currently in the feasibility stage, expected to start in 2024.
Field participation details
The field is owned by National Iranian Oil.
Production from Foroozan
The Foroozan conventional oil field recovered 67.81% of its total recoverable reserves, with peak production in 2004. The peak production was approximately 55.80 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2051.
Remaining recoverable reserves
The field is expected to recover 152.99 Mmboe, comprised of 152.99 Mmbbl of crude oil & condensate. Foroozan conventional oil field reserves accounts 0.03% of total remaining reserves of producing conventional oil fields globally.
About Iranian Offshore Oil
Iranian Offshore Oil Co (IOOC), a subsidiary of National Iranian Oil Co, is an oil and gas exploration and production company. The company carries the activities of exploration, production and development of oil and gas fields. Its services include renovating and reconstructing the installations, improving the production methods and conservation of oil and gas reserves. IOOC also performs storage engineering, descriptive drilling and general engineering and construction activities. The company has operations across Bahregan, Kharg, Siri, Lavan, Qeshm, Kish in Iran. IOOC is headquartered in Tehran, Iran.
For more details on the Foroozan Conventional Oil Field, buy the profile here.