BAKU, Azerbaijan, Feb. 10
By Elnur Baghishov – Trend:
The import of the technologies to the country is necessary to increase extraction in Iran’s oil sector, Iranian expert on energy issues Mehrdad Emadi told Trend.
According to Emadi, in addition, foreign investments should be made in Iran's oil sector. Thus, it is possible to reach extraction to a normal level.
“Because the lack of technology and foreign investment in recent years has had a negative impact on Iran's oil and gas sector,” he added.
The expert noted that at present, Iran's crude oil extraction is 35 percent below its natural potential. This has also a negative impact on Iran's local consumption.
Emadi said that the restoration of Iran's oil infrastructure and the repair of oil wells have dropped to 1/5 over the past five years.
According to him, the increase in consumption in the Iranian gas sector also requires a large number of investments.
Iran extracts about 2 million barrels of crude oil and 1 billion cubic meters of rich gas daily.
As reported, Iran's natural gas extraction is expected to be increased by 60-70 million cubic meters per day.
In 2018, the foreign companies left Iran as a result of new US sanctions against Iran in many areas, especially the oil sector. This has resulted in Iran trying to maintain its extraction in the oil sector through local investment.
The National Iranian Drilling Company reports that 117 oil and gas wells were drilled and improved in Iran over the past year (from February 1, 2020, to February 1, 2021).