Iran plans to restore 20 inactive oil wells by Jan. 20
Azerbaijan, Baku, Dec. 24 / Trend F.Milad/
Iranian Oil Minister Rostam Qasemi instructed the research center of the oil industry to put 20 inactive oil wells into operation by the end of the tenth calendar month of Dey (January 20), the Shana news agency reported.
The director of the research center of the oil industry Vahid Haddadi-Asl told Shana news agency that some 1,500 inactive oil wells are scattered across the country. If we manage to revive just a single inactive well to produce 1,000 barrels of oil per day, we will do much, he added.
"The oil industry's infrastructure needs more than 500 trillion rials (about 50 billion U.S. dollars) of investment to achieve the goals of Iran's 20-year economic perspective plan," ISNA news agency quoted Rostam Qasemi as saying in August.
"By the end of the fifth development plan (2015), the country's oil production must increase to 5.2 million barrels per day (bpd) and this should happen from the country's joint fields," Qasemi said.
Crude oil production in Iran in 2010 totaled 4.3 million barrels per day, Middle East Economic Digest (MEED) magazine said.