BAKU, Azerbaijan, June 7. The National Iranian Drilling Company (NIDC) is implementing various plans to develop the country's oil fields, Deputy Director of the National Iranian Drilling Company (NIDC) Masoud Afshar said, Trend reports citing the company’s website.
The deputy director said that in recent years, Iran has signed a number of contracts for the development of oil fields in the country. The NIDC has been operating under these contracts for 15 months. Over the past 15 months, 7 wells have been drilled and improved in this direction.
Afshar added that currently, 14 wells are being drilled in the country. Physical progress in the excavation of the mentioned wells is in the range of 10-90 percent.
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 1.2 trillion barrels. With available technology and equipment, Iran can extract 340 billion barrels. Thus, 30 percent of the country's hydrocarbon reserves are recoverable, while 70 percent remain underground.
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