BAKU, Azerbaijan, October 11
By Elnur Baghishov – Trend:
The National Iranian Drilling Company (NIDC) has spent a total of 3 trillion rials (about $71.4 million) since the beginning of the current Iranian year of (March 20, 2020) to date for purchase equipment that is manufactured domestically, Managing Director of the NIDC, Abdollah Mousavi said, Trend reports citing NIDC’s official website.
Mousavi noted that the number of equipment and spare parts most used and purchased in the drilling of oil and gas wells in Iran was 1,859 units.
According to the director, more than 20,000 units of equipment and spare parts more used on drilling of oil and gas wells in Iran were manufactured by local Iranian manufacturers over the past Iranian year (from March 21, 2019 to March 20, 2020) and this equipment was used in various operations.
The US has imposed new sanctions on Iran since November 2018. These sanctions were created a number of difficulties in Iran in many areas, especially the export of crude oil, and the purchase of equipment and so on in this area. Iran plans to rely on local production to overcome these difficulties.
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's hydrocarbon reserves are recoverable, while 71 percent remain underground.