Explorations underway to increase oil extraction from Iran's Gachsaran oil field

Oil&Gas Materials 27 January 2021 11:55 (UTC +04:00)

BAKU, Azerbaijan, Jan. 27

By Elnur Baghishov – Trend:

The first stage of exploration operations to increase oil extraction from the Gachsaran oil field in the Kohgiluyeh and Boyer-Ahmad Province Province (southwestern Iran) has been completed and the second stage has been launched, the Member of the scientific staff of the Petroleum University of Technology of Iran Jamshid Moghaddas said, Trend reports citing National Iranian South Oil Company’s website.

The official said that the extraction from this field is projected to be increased by 1-3 percent.

He added that if the price of oil is set at $30 per barrel, this increase will bring daily $300,000-$400,000 additional revenues from this field.

Moghaddas noted that this plan will be completed in 2027. And various explorations have been conducted on similar oil fields around the world, so far.

According to the official, the Gachsaran oil field is one of the most complex oil fields in Iran. The field contains more than 50 billion barrels of oil. Increasing production in this field is one of the main goals.

Iran's Gachsaran oil field is considered the second largest oil field after the Ahvaz oil field. The field contains a total of 52 billion barrels of crude oil, of which 23 billion barrels can be extracted. As reported, about 480,000 barrels of crude oil were extracted from this field per day.