Crude oil production from the supergiant Yadavaran oil field stands at 55,000 barrels a day, manager of the field development project said.
Hadi Nazarpour said Iran has so far withdrawn more than 40 million barrels of crude oil from the field. Iran shares the field with the neighboring Iraq.
The development project of Yadavaran oil field is being carried out in three phases. According to Nazarpour, phase I development of the field is 96% complete.
The phase is being developed for production of 85,000 b/d of crude oil from the field.
Nazarpour said the second phase of the project envisages 180,000 b/d output.
He said that the Chinese contractor developing the field has failed to fulfill its obligations with regard to the development of the field. He said the project has been delayed 15 months.
China is developing the field under a 2.9-billion-euro buy-back deal.