Iran’s NISOC boosts oil extraction

Oil&Gas Materials 21 January 2021 15:16 (UTC +04:00)
Iran’s NISOC boosts oil extraction

BAKU, Azerbaijan, Jan. 21

By Elnur Baghishov – Trend:

The crude oil extraction of the National Iranian South Oil Company (NISOC) increased by 7,500 barrels daily by the conducting certain operations in 21 wells in its territories, said Ramin Roghanian, Deputy Director of the National Iranian South Oil Company's (NISOC) Technical Affairs Department, Trend reports citing the company’s website.

The deputy director noted that well acidizing operation was carried out in 17 wells via foam equipment and nitrogen was injected into the 4 wells in the company’s territories.

“In addition, the company plans to carry out this operation in 25 more wells,” Roghanian added.

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.