TEHRAN (FNA)- Production from Changouleh oil field, jointly operated by Iran and Iraq, is to rise to 40,000 or 50,000 b/d, an official at Petroleum Engineering and Development Company (PEDEC) said. Ali Abbasi was quotes by the oil ministry website as saying the field is being developed in two phases, adding that the first phase involves production of 15,000 b/d. In the first phase, he said, four wells would be drilled and two exploration wells would be repaired. The second phase, which is expected to last 60 months, would involve drilling of 13 wells. Changouleh is among 45 projects Iran’s Petroleum Ministry is to present for investment during a conference in London in September. Development of this field is estimated at around $2.2 billion. SOURCE