Baku, Azerbaijan, Aug. 26
By Umid Niayesh - Trend:
National Iranian Drilling Company (NIDC) has drilled about 378,804 meters of oil and gas wells by its drilling fleet during the 12-month period to August 22.
The figure includes drilling of 62,000 meters of horizontal wells.
The company has completed drilling operations of 170 offshore and onshore oil and gas wells in the period, the oil ministry's official SHANA news agency reported August 26.
The drilling includes 81 development operations, two exploration drilling as well as 79 repair operations. The company's drilling fleet currently includes 75 rigs.
The main drilling operations in the one-year period were launched within the operational area of the National Iranian South Oilfields Company.
By holding 157.8 billion barrels of recoverable crude oil reserves, Iran possesses the world's fourth largest reserves of crude oil.
The Islamic Republic also holds 34 trillion cubic meters of proven gas reserves, sharing 18.2 percent of total global gas reserves, which puts the country in the top of the world's gas holders list.
Iran's current oil production is estimated to be around 2.8 million barrels per day of which about one million barrels are exported.
Edited by CN
Follow the author on Twitter: @UmidNiayesh