Hengam oil field’s production capacity will go up from 30 to 45 thousand barrels per day by the end of this (Iranian) year (ending in March, 2014). The announcement was made by Director of engineering and construction at the Iranian Offshore Oil Company ((IOOC) Reza Bayazi. Bayazi added that oil production from Hengam oil field will rise to 45 thousand barrels per day after the implementation of the next phase of its development plan, including laying sea pipeline and construction of decks. Elaborating on boosting production capacity in Hengam oil field, Bayazi said Iranian companies were in charge of construction and installation of the field’s platforms, drilling its wells and its sideline facilities in Qeshm Island. He pointed to Clean Development Mechanism as one of advantages of the Hengam development plan, stating that if the project to go ahead on schedule so that bring under control flaring associated gases, the country will enjoy some benefits from the UN. Development of the oil field by Iranian contractors and creating needed infrastructures in Qeshm region to facilitate development of Tosan, Taftan and Hormoz fields are the main characteristic of the Hengam oil field’s development plan. Earlier, Iran’s Offshore Oil Company’s Managing Director Mahmoud Zirakchianzadeh said Hengam oil field had great potentials for development and IOOC is pursuing building its gas processing plant in two phases. Straddled along the Iran and Oman borders, Hengam oil field is located 70 km off Iran’s shore in the Persian Gulf water near Hormouz Straight. The oilfield came online for the first time in May 2011 with production of 4.000 barrels of oil per day. In place oil and gas reserves of the field, which was found in 1972 by ELF Company, are estimated at 700 million barrels and 2 trillion cubic feet respectively.