Deputy director: Sustainable production - priority for National Iranian Oil Company
BAKU, Azerbaijan, Feb. 20
By Elnur Baghishov - Trend:
One of the priorities for the National Iranian Oil Company (NIOC) is to repair and renovate oil and gas facilities, Deputy Director for Production Affairs of NIOC Farroukh Alikhani said at a meeting on investment opportunities in crude oil projects, Trend reports citing Shana News Agency.
Farroukh Alikhani noted that safe and sustainable production is in the focus of attention in order to safeguard and increase production.
Projects on wells, processing facilities, transportation pipelines and delivery are designed to ensure safe and sustainable production., the deputy director added.
The southern oil zones of Iran, which account for 74 percent of Iran's oil production, are in the spotlight in terms of repair and renovation of old facilities, Alikhani said.
Desalination and sweetening facilities are of great importance in sustainable and safe production in the southern oil zones, the deputy director said, adding that four investment projects have been designed for this purpose.
The meeting on investment opportunities in crude oil projects was held in Tehran on Feb. 19. The participants discussed the commissioning and use of refinery equipment.
In general, there are 125 oil fields and 59 gas fields in Iran. Iran’s total hydrocarbon reserves are 836 billion barrels. With the technology equipment, it is possible to extract 239 billion barrels. Iran may use 29 percent of the reserves, while 71 percent remain underground.