France’s IFP eyes to help Iran boost oil recovery rate

Oil&Gas Materials 20 July 2016 15:25 (UTC +04:00)

Baku, Azerbaijan, July 20

By Emil Ilgar – Trend:

French Institute of Petroleum (IFP) has willingness to cooperate with Iranian institutions to study the ways for enhancing the country's oil reserves’ recovery rate, SHANA quoted Hussein Didier, head of IFP as saying July 20.

The oil recovery rate of Iran’s fields are about 22-25 percent in average, that is, Iran can extract only one fourth of its reserves, while some countries have already improved this index to about 40-60 percent.

Didier said that most of Iran’s oil reserves are very complicated to develop and IFP is ready to help Iran boost the fields’ oil recovery rate.

IFP and Iran’s Research Institute of Petroleum Industry (RIPI) signed a memorandum of understanding (MOU) on July 19.

According to the MOU, a part of research projects on Iran's upstream oil and gas industries will be implemented jointly. A training roadmap in oil and gas will also be held for researchers of the RIPI.