Iran to boost recoverable reserve at southern oilfield by 120 million barrels
Azerbaijan, Baku, Nov.28/ Trend G.Mehdi/
Recoverable oil from the onshore Nargesi oilfield, located in south of Iran, will be increased by 120 million barrels once the oilfield's development plan comes on stream, ISNA reported on Wednesday.
The oilfield would see its output rising after gas injection and associated gas gathering operations are implemented.
The $33 million recovery enhancement project has been commissioned to an Iranian contractor within the framework of an Engineering, Procurement and Construction (EPC) contract.
The field was discovered in 1974. NISOC is currently operating nearly 750 oil output preservation projects, 12 of which are scheduled to come on-stream by the end of the current Iranian calendar year in March 2013.
NISOC, a subsidiary of the state-run National Iranian Oil Company (NIOC), accounts for three million barrels per day of crude oil.