BAKU, Azerbaijan, May 26
By Elnur Baghishov – Trend:
The National Iranian South Oil Company (NISOC) has announced eight new investment opportunities for investors and startups, Trend reports citing the company’s website.
According to the report, the NISOC wants investors to invest in the skid mounted units in its territory.
“The company plans to supply, install and put into operation equipment in the Ahvaz, Masjed Soleyman, Rag Sefid, Kupal and Ramshir oil fields,” the report said.
With the implementation of these operations, oil extraction of the NISOC will increase by 220,000 barrels daily, the report said.
The company did not provide additional information on the value of the investment.
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.