BAKU, Azerbaijan, May 5
By Elnur Baghishov - Trend
The National Iranian Drilling Company (NIDC) will use 15 drilling rigs as part of the plan to maintain and increase production in 28 oil fields in the current Iranian year (starting from March 20, 2020), said Managing Director of the company Abdollah Mousavi said, Trend reports citing the company’s website.
According to Mousavi, these drilling rigs will start operating in the next three months.
Mousavi added that six wells will be drilled in Iran's Sepehr and Jofair oil fields.
The official said that for this purpose, a contract worth $60 million was signed between the Iranian Pezhvak Energy Engineering Services Company (PECO) and NIDC.
"Discussions are underway with PECO. If the discussions are successful, 10 more wells will be drilled in these fields," he said.
Mousavi said that talks also are underway between Iranian Pasargad Energy Development Company (PEDC), and NIDC. If the agreement is concluded, 6-7 wells will be drilled in the Siyah-Makan field this year.
The official said that negotiations have been held with PEDC to drill a total of 18 wells in oil fields. As expected, 8 drilling rigs will be used to drill the wells.
"NIDC has announced that it is ready to drill 120 wells for future projects of PEDC. The offer was welcomed by the company," he said.
Sepehr field's reserves are estimated at 5.4 billion barrels of oil. The development and commissioning of this field were transferred to the Iranian Pasargad Energy Development company.
Jufair oil field's reserves are estimated at 4.4 billion barrels of oil. Its potential production reaches 390 million barrels. Some 50,000 barrels of oil are extracted from this field daily. The field development project also was transferred to the Pasargad Energy Development company.
About 280 new wells will be drilled as part of the plan to maintain and increase production in 28 fields under the control of National Iranian South Oil Company (NISOC). The share of the NIDC in this plan will be large.
Iran has 125 oil fields and 59 gas fields. The country's total hydrocarbon reserves are estimated at 836 billion barrels. With available technology and equipment, Iran can extract 239 billion barrels. Thus, 29 percent of the country hydrocarbon reserves are recoverable, while 71 percent remain underground.