BAKU, Azerbaijan, Dec. 25
By Elnur Baghishov - Trend:
The oil and gas production by Iran’s Masjed Soleyman Oil and Gas Production Company, located in south-eastern Iran, will grow by 5.7 percent, executive director of the company Gubad Nasiri said, Trend reports referring to ISNA.
“Five out of 28 wells in Iran’s oil zone which is being upgraded are in the operating zone of the company,” the executive director said.
Nasiri added that as a result, the company's oil production will increase by 42,000 barrels.
“Some 70-80 percent of the equipment and components were produced domestically,” the executive director said.
Nasiri also stressed that the production of equipment in the country has become much qualitative and in the future it will be possible not to import the equipment used in the oil and gas sector.
“This company is one of the oldest companies in the Middle East,” the executive director said. “Despite this, equipment and pipelines are fully used.”
“Over the past three years, the company has undergone reconstruction and the repair work is still underway,” Nasiri said.
The company’s oil and gas fields are located in Khuzestan, Ilam and Lorestan provinces. It produces an average of 170,000 barrels of oil per day and about 10 million cubic meters of gas.
The company operates 16 oil fields and 8 gas fields. It is part of the Iran Southern Oil Fields Company.