BAKU, Azerbaijan, Jan. 10
By Elnur Baghishov – Trend:
National Iranian South Oil Company (NISOC) can reach daily crude oil extraction of 3 million barrels for the current Iranian year (March 21, 2021 through March 20, 2022), the Managing Director of the NISOC, Alireza Daneshi told Shana News Agency, Trend reports.
The director also pointed out that the company is implementing various plans to maintain and increase extraction. As a result of these plans, the company's extraction will increase by 300,000 barrels daily over the next two years.
According to Daneshi, the company plans to repair more than 500 wells and drill more than 200 wells over the next five years.
“The NISOC is implementing a pilot plan to inject water into wells in the Bangladesh reservoir of the Ahvaz oil field. The aim is to inject 50,000 barrels of water into wells per day. If the results of the plan are successful, the extraction ratio can increase by 15-20 percent, he said.
Daneshi noted that at present, the company's crude oil extraction is naturally declining by about 500,000 barrels per year.
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.
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