BAKU, Azerbaijan, July 10. Iranian Offshore Oil Company (IOOC) has saved more than $200 million by monitoring the operation of downhole pumps in the oil fields instead of replacing them, an official of company Alireza Ghanei said, Trend reports.
As a result of the monitoring of downhole pumps, their activity increased by 40 percent and reached 40 months, Ghanei noted.
“On the other hand, the well pumps in 28 oil wells in the oil fields of the company were not replaced and instead their activity was kept under control,” he added.
The official also said that it takes 2 months to replace each pump and install a new pump. Since each downhole pump is involved in the production of an average of 1,500 barrels of crude oil per day. It means that the failure to suspend activity of the pumps resulted in the production of approximately 2.5 million barrels of crude oil.
Ghanei also pointed out that daily monitoring of parameters of oil wells, checking the temperature of motors, daily updating of data related to oil wells, correct use of obtained data, etc., are included in the work done on keeping pumps under control.
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 reaches up to 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.
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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