Azadegan is the largest oil field discovered in Iran in the last 30 years, and one of the biggest globally, with estimated oil in place of around 33.2 billion barrels (including Yaran North and Yaran South). It is located onshore, adjacent to the giant Majnoon field in neighbouring Iraq. Azadegan was discovered in 1998 and is 95 kilometres west of Ahvaz and 105 kilometres north of Abadan. Development of Azadegan is among the top upstream priorities of NIOC. The first and second development phases envisage production reaching 320,000 b/d before 2020 and 600,000 b/d by 2025. The initial full capital investment for the first phase was estimated at US$5.5 billion.