Iran’s NISOC programs to create opportunities for local companies

Oil&Gas Materials 26 May 2021 13:16 (UTC +04:00)
Iran’s NISOC programs to create opportunities for local companies

BAKU, Azerbaijan, May 26

By Elnur Baghishov – Trend:

The programs of the National Iranian South Oil Company (NISOC) related to increase extraction to the maximum will create great opportunities for local companies, the Technical Director of NISOC Sadegh Fatollahi said, Trend reports referring to the company's website.

The director stressed that within the framework of the programs, opportunities will be created for companies cooperating in excavation and construction work, startup companies that play a role in increasing the use of new technologies, as well as contractors on the development of fields.

He added that the NISOC has already prepared various programs to maintain 2.4 million barrels worth of extraction on a daily basis. Of this amount, 230,000 barrels will be achieved through a program to maintain and increase extraction.

Fatollahi noted that there are other plans to increase extraction by 1 million barrels daily. Partially, they will be achieved through the establishment of Ahvaz, Qaleh Nar and Marun 5 desalination centers.

“In addition, there are plans to build desalination centers to increase extraction," he said.

According to the director, the company plans to extract daily 524,000 barrels of crude oil with a skid mounted unit. Of this extraction, 219,000 barrels are related to Lali, Gachsaran and Mansouri fields, and tenders are being held in this regard. While for the extraction of the remaining 305,000 barrels, tenders will be held in the near future.

Fatollahi emphasized that it is also planned to extract daily 265,000 barrels of crude oil in the current Iranian year by increasing the cluster and pressure.

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.