Iran's MOGPC prevents decline in crude oil extraction

Oil&Gas Materials 17 March 2021 14:43 (UTC +04:00)
Iran's MOGPC prevents decline in crude oil extraction

BAKU, Azerbaijan, Mar. 17

By Elnur Baghishov – Trend:

Iran's Marun Oil and Gas Production Company (MOGPC) has prevented about 150,000-barrels decline in daily crude oil extraction since the beginning of the current Iranian year (March 20, 2020), the Executive Director for MOGPC Hamid Kavian said, Trend reports citing the company’s information portal.

Kavian emphasized that in this regard, the company's specialists have implemented a number of plans.

He added that also, there is a potential to increase extraction from the Shadgan oil field to 40,000 barrels daily, with the implementation of these plans.

The director said that the implementation of 4 plans to maintain and increase oil extraction from the territories of Marun Company has been launched. Under these plans, 40 development wells will be drilled and 20 wells will be repaired in the company’s territories.

The Marun Oil and Gas Production Company, which operates under the auspices of the National Iranian South Oil Company (NISOC), extracts oil from 404 oil wells. The company's daily oil extraction is 562,000 barrels.

About 360,000 barrels of it is transported to the Esfahan Oil Refining Company, and the rest (202,000 barrels) to the Kharg Island.

The company also extracts 570 million cubic feet (about 16.1 million cubic meters) of gas, 25,000 barrels of liquefied gas and 7,000 barrels of gas condensate per day.