BAKU, Azerbaijan, March 14. The National Iranian Oil Company (NIOC) signed contracts with four Iranian local companies to increase the production from 6 low-yield oil wells, on March 14, 2023, Trend reports citing Shana News Agency.
The mentioned four companies are Petro Atlas Zagros Company, Zima Tose'e Parsian Kish Company, Hirbod Niroo Company, and Engineering Support Technologies Development Company.
According to the signs contracts, work will be started on increasing the production of well No. 1 of the Palangan oil field, well No. 32 of the Parsi oil field, wells No. 159 and 191 of the Marun oil field, wells 130 and E2p5 of the Dorud oil field.
In the near future, the problems such as decreasing pressure in the mentioned wells and so on will be eliminated.
There are over 700 low-yield oil wells in Iran. By taking a number of steps, Iran's production from the mentioned wells can reach 80 million barrels per year. 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 – by the Iranian Central Oil Fields Company (ICOFC), 5 fields – by 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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