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Iranian Offshore Oil Company completes repairment of oil wells

Oil&Gas Materials 17 December 2020 11:37 (UTC +04:00)
Iranian Offshore Oil Company completes repairment of oil wells

BAKU, Azerbaijan, Dec. 16

By Elnur Baghishov – Trend:

As many as 7 oil wells of the Iranian Offshore Oil Company (IOOC) around the Kharg Island have been repaired since the beginning of the current Iranian year (March 20, 2020), an official of National Iranian Drilling Company (NIDC) Hojatollah Barzegar said, Trend reports citing the NIDC’s website.

According to Barzegar, these wells were repaired with the “Fath 42” drilling rig and handed over to the relevant company.

The official added that the repair operations of the 8th well of the Iranian Offshore Oil Company have already been launched.

As reported, the Iranian Offshore Oil Company extracts an average of 500,000 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's hydrocarbon reserves are recoverable, while 71 percent remain underground.

The National Iranian Drilling Company has improved 82 oil and gas wells during the first eight months of the current Iranian year (March 20 through November 20, 2020). Of these wells, 23 were delineation and development wells, 57 were repair wells and 2 were exploration wells.

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