BAKU, Azerbaijan, Jan. 13
By Elnur Baghishov – Trend:
As many as 17 oil and gas wells have been repaired and upgraded at the National Iranian South Oil Company (NISOC) without the need for any drilling rig in the current Iranian year (began March 20, 2020), said Younes Abbasi Larki, Director of Repair, Completion and Technical Services of Wells of the NISOC, Trend reports citing the company’s website.
The director stressed that in addition to maintaining oil and gas extraction, 640 billion rials (about $ 15.2 million) have been saved, as a result of these repair operations.
Abbasi Larki added that as a result of these repairs operations, daily 13,600 barrels of crude oil, 40 million cubic feet (about 1.13 million cubic meters) of gas are extracted and 32 million cubic feet (about 9.06 million cubic meters) of gas are pumped into wells. Furthermore, these repairs have eliminated the problems associated with the injection of oil and gas waste into some wells.
“About 840 gate valves and downhole equipment were repaired during 8 months of the current Iranian year (March 20 through December 20, 2020). As a result, billions of rials (1 billion rials equals to about $23,800) were saved,” he said.
The 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 extracts about 80 percent of Iran's crude oil and 16 percent of gas. The company reportedly extracts 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's hydrocarbon reserves are recoverable, while 71 percent remain underground.