BAKU, Azerbaijan, May 27
By Elnur Baghishov – Trend:
The National Iranian South Oil Company (NISOC) saved more than 302 billion rials (about $7.19 million) in consumption of demulsifiers in the last Iranian year (March 21, 2019 to March 20, 2020), said the company’s Production Manager Saeid Kouti, Trend reports with reference to the company’s website.
According to Kouti, about 4,237 barrels of demulsifiers were saved last Iranian year.
Kouti added that demulsifiers, which are chemicals, are the main substances used in oil production process.
The official said that a number of changes in production process, including elimination of deficiencies and the regulated use of demulsifiers, etc., have are the reasons behind the save of funds.
National Iranian South Oil Company (which is subordinate of National Iranian Oil Company) has 45 large and small hydrocarbon deposits in an area of 400,000 square kilometers from Iran's Bushehr Province to the north of Khuzestan Province. The company produces about 80 percent of Iran's crude oil and 16 percent of gas. The company reportedly produces about 3 million barrels of oil per day.
About 280 new wells will be drilled as part of the plan to maintain and increase production in 28 fields under the control of NISOC. It is planned to implement the program to maintain and increase oil production at 28 fields within two years. With the completion of this plan, the company's production will increase by 341,000 barrels per day. About $4.6 billion is required for the implementation of this plan.
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.