...

Iran’s NIDC reveals amount of expenses

Oil&Gas Materials 25 January 2021 11:32
Iran’s NIDC reveals amount of expenses

BAKU, Azerbaijan, Jan. 25

By Elnur Baghishov – Trend:

The National Iranian Drilling Company (NIDC) has spent about 3 trillion rials (about $71.4 million) on the purchase of spare parts and used equipment since the beginning of the current Iranian year (March 20, 2020) to date, Head of Supply Department of the company, Farhad Mayahi Arabi told National Iranian Oil Company’s portal, Trend reports.

According to Mayahi Arabi, about 60 percent of the spare parts and equipment needed by the company in the current Iranian year were provided by domestic production.

The official added that the amount of purchased local equipment and spare parts increased by 5 percent compared to last Iranian year.

The National Iranian Drilling Company drilled and improved 98 oil and gas wells during the first 10 months of the current Iranian year (March 20, 2020 through January 20, 2021).

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.

Tags:
Latest

Latest