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Implementation of drilling operations continue in Iran's oil fields

Oil&Gas Materials 24 January 2021 17:55
Implementation of drilling operations continue in Iran's oil fields

BAKU, Azerbaijan, Jan. 24

By Elnur Baghishov – Trend:

The drilling operations are being carried out in the territories of the Iranian Central Oil Fields Company (ICOFC) and the National Iranian South Oil Company (NISOC) by using 15 drilling rigs as part of plans to maintain and increase oil extraction, Managing Director of the National Iranian Drilling Company (NIDC), Abdollah Mousavi told National Iranian Oil Company’s information portal, Trend reports.

The director emphasized that so far, 32 oil wells have been drilled and improved.

He added that the drilling operations are being carried out in Gachsaran, Naftshahr, Ramin, Balarud, Lali Bangestan, Sepehr and Jufair oil fields.

According to Mousavi, the National Iranian Drilling Company has drilled and improved 98 oil and gas wells since the beginning of the current Iranian year (March 20, 2020). The company completed the drilling of 15 wells 257 days ahead of schedule.

As many as 33 projects were prepared in Iran to maintain and increase oil extraction. The oil extraction in Iran will increase by 280,000 barrels daily with the implementation of the projects. It is estimated that $7.2 billion will be spent on these projects.

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.

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