At this early stage of exploration, the National Iranian Oil Company (NIOC) believes that there are at least 1 billion barrels of recoverable crude oil reserves on the site, and possibly substantially more. There is also a very significant amount of associated gas as well.
Crude oil production is due to hit the 50,000 barrels per day (bpd) level within the next 18 months, based on the standard recovery rate of Iranian oil wells in the West Karoun region of 5 percent. Serious enhanced oil recovery (EOR) techniques will not be used for the foreseeable future, as it would cause considerable disruption to the city of Abadan itself but, even without it, Iran’s Petroleum Ministry believes that production can be increased with relative ease to around 140,000 bpd within 24 months, with the right partners. From that point there is a lot of scope for further increases in output, based on higher reserves and/or an increase in the rate of recovery.