BAKU, Azerbaijan, August 19
By Elnur Baghishov – Trend:
The oil production continues in the oil fields of the National Iranian South Oil Company (NISOC), despite the spread of the coronavirus in Iran, managing director of National Iranian South Oil Company (NISOC) Ahmad Mohammadi told IRNA, Trend reports.
Of course, there are a number of problems with the spread of the epidemic, the director stressed.
According to him, therefore, health protocols are strictly adhered by the company.
Mohammadi added that six contracts were signed at the beginning of last Iranian year (from March 21, 2019 to March 20, 2020) to increase production in the Mansouri, Ramshir, Lali, Kaboud, Gachsaran and Nargesi oil fields of the NISOC.
Mohammadi noted that there is a 24-50 percent progress in implementation of agreements under these contracts.
The director said that according to these contracts, 7 wells have been drilled and upgraded and several wells are being upgraded.
"Under the contracts, the company's oil production will increase by 100,000 barrels per day," he said.
The official emphasized that it is planned to sign 10 more contracts to maintain and increase oil production in the areas controlled by the National Iranian South Oil Company. Thus, the contractors for 3 contract companies will be determined within 15 days and for the remaining contracts over the next 3 months.
National Iranian South Oil Company, a subordinate of National Iranian Oil Company, operates 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.
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.