...

Iran’s IOOC keen to increase oil production in Persian Gulf

Oil&Gas Materials 24 April 2023 13:16 (UTC +04:00)
Iran’s IOOC keen to increase oil production in Persian Gulf
Elnur Baghishov
Elnur Baghishov
Read more

BAKU, Azerbaijan, April 24. Iranian Offshore Oil Company (IOOC) intends to increase crude oil production by completing the operations carried out in the Resalat oil field in the Persian Gulf, an official of the IOOC, Pouya Marefi said, Trend reports citing the company’s website.

According to Marefi, the drilling rig started operation near the DP-R1 platform in the Resalat oil field on April 23, 2023.

The official added that crude oil production is expected to increase by 12,000 barrels with the completion of the work in the 1st phase of the Resalat oil field. Appropriate steps are being taken to lay pipes, carry out various repairs on the R1 platform, drill 4 new wells, and repair 2 existing wells.

He also said that by drilling 2 new wells and repairing one existing well, a part of the intended goals was realized.

Iran's Resalat oil field is located 85 kilometers south of Lavan Island in the Hormozgan Province. Reportedly, Iran extracts 46,000 barrels of oil from this field per day.

Iranian Offshore Oil Company (IOOC) was established in 1980 under the auspices of the National Oil Company of Iran. The territory under the control of the IOOC is more than 1,800 square kilometers. The company's oil fields contain 96 million barrels of crude oil reserves, of which 16 million barrels are extractable.

Moreover, there are 180 billion cubic meters of gas reserves in gas fields under the company's control. Of this, more than 120 billion cubic meters are extractable.

---

Follow the author on Twitter:@BaghishovElnur

Tags:
Latest

Latest