0309 GMT January 27, 2020
Shana reported that Shell had submitted the outcome of feasibility studies on the fields — South Azadegan and Yadavaran — to National Iranian Oil Company (NIOC).
Both are located in Iran's oil-rich southwestern province of Khuzestan. Shell had signed a preliminary agreement with NIOC in December 2016 to study the investment potentials in South Azadegan and Yadavaran as well as Kish gas field.
South Azadegan was discovered in 2001 and was described at the time as the world's biggest oil find in decades.
It has recoverable reserves of about two billion barrels. Azadegan is believed to be connected with Iraq's supergiant Majnoon oilfield which has recoverable reserves of 13 billion barrels which was also being developed by Shell and is now producing 200,000 barrels per day (bpd) of oil for Iraq.
Yadavaran — which was once described as the crown jewel of Iran's oil projects — has recoverable reserves of three billion barrels.
Both South Azadegan and Yadavaran are located in Iran's southwestern oil-rich province of Khuzestan and their early production is currently yielding 40,000 bpd and 85,000 bpd, respectively.
The two oilfields are expected to boost Iran's oil production capacity by above 600,000 bpd once fully developed within the next three years.
Kish gas field is located in the Persian Gulf island of Kish and is considered the country's second biggest gas field after South Pars. With reserves of 70 trillion cubic feet, Iran plans to use Kish output to feed a pipeline to Oman where a section of the supplies will be turned into liquefied natural gas (LNG) for export to international markets.