Iran's NISOC reveals volume of oil output in 2021

Oil&Gas Materials 21 February 2022 12:37 (UTC +04:00)
Iran's NISOC reveals volume of oil output in 2021

TEHRAN, Iran, Feb. 21


The crude production of National Iranian South Oil Company, the country's largest oil production company, has reached 1.4 million barrels per day in 2021, which means 900,000 barrels less than the estimations, Trend reports citing Fars News Agency.

NISOC is producing about 83 percent of all crude oil and 17 percent of natural gas produced in Iran and ranks as Iran's biggest oil company.

According to the financial statements of the NISOC, in 2021, the company was supposed to raise the daily production capacity to 2.3 million barrels, of which about 1.4 million barrels per day was achieved.

In addition, the gas injection into oil fields run by the National Iranian South Oil Company (NISOC) during the last Iranian year (March 2020 to March 2021) has decreased.

During the mentioned period, 26 million cubic meters of gas was injected into the fields for enhancing oil recovery, while the Company was supposed to inject over 66.4 million cubic meters per day.