Iran reduces oil production due to lack of gas injection
Azerbaijan, Baku, August 3 /Trend/
Iran oil production reduced due to lack of drilling rigs and gas to inject into the oil reserves, Mehr News Agency reported quoting Managing Director of National Iranian South Oil Company Hormuz Ghalavand as saying.
"Currently 3 million barrels of crude oil are being produced in Iran's southern regions, but the priority of the National Iranian Oil Company is to preserve and maintain current production levels, considering that oil fields in this region are old", he said.
According to the Fifth Development Plan (2010-2015) Iran should increase oil production by 1 million barrels per day. However, Iran is not ready to maintain current production in the second half-life of the oil fields if it is to implement such measures, he added.
A shortage in drilling rigs for onshore and offshore fields is another reason for drops in oil production. Iran ranks second in the world in terms of oil reserves, but currently less than 100 drilling rigs are active in the country.
The lack of gas injections into the oil reserves is another problem. Currently 30 oil fields in Khozestan province require a gas injection, but the injection applies to 10 oil fields. Meanwhile the lack of pumps in wells also reduces oil production.