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Iran's NISOC ready to increase oil extraction

Oil&Gas Materials 5 May 2021 16:17 (UTC +04:00)
Iran's NISOC ready to increase oil extraction

BAKU, Azerbaijan, May 5

By Elnur Baghishov – Trend:

The volume of gas injected into oil fields in the territory of the National Iranian South Oil Company (NISOC) increased by 7 times in the 1st month of the current Iranian year (March 21 through April 20, 2021), compared to the 12th month of the last Iranian (February 19 through March 20, 2021), director of the production management department of the NISOC Gholamreza Nourani said, Trend report citing the company’s website.

Nourani stressed that the short-term increase in gas injection into oil fields indicates that the company is ready to increase extraction, protect the environment and prevent the burning of flare gas.

According to the report of the company, gas is currently injected into the reservoirs of Karanj, Parsi, Paranj, Marun, Kupal, Haftkal, Aghajari oil fields in the territory of the NISOC in order to stabilize the pressure and increase the coefficient of oil extraction. The flare gas injected into the fields is supplied from the Aghar, Dalan, and South Pars gas fields.

The company said that due to gas shortages, as well as an increase in gas consumption in Iran in the winter every year, the volume of gas injected into oil fields decreases, while in other seasons, it increases.

As reported, the National Iranian South Oil Company, a subordinate of National Iranian Oil Company, operates 45 large and small hydrocarbon deposits in an area of 400,000 square kilometers from Iran's Bushehr Province to the north of Khuzestan Province.

The company extracts about 80 percent of Iran's crude oil and 16 percent of gas. The company reportedly extracts about 3 million barrels of oil per day.

There are currently 74 oil and 22 gas fields in Iran. So, 37 oil fields are operating in the territory of the National Iranian South Oil Company (NISOC), 14 fields – Iranian Central Oil Fields Company (ICOFC), 5 fields – Arvandan Oil and Gas Company (AOGC), and 18 oil fields – Iranian Offshore Oil Company (IOOC).

In addition, 5 gas fields are operating in the territory of the NISOC, 13 fields – the ICOFC, 1 field – Pars Oil and Gas Company (POGC), and 3 gas fields – the IOOC.

Iran’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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