Official: Oil production stable in south Iran

Iran Materials 2 May 2012 13:16 (UTC +04:00)

Azerbaijan, Baku, May 2/Trend M. Moezzi

Over the last 10 to 15 years there has been no drop in oil production in Iran's southern region which accounts for 80 per cent of the country's total crude oil output and 16 per cent of its gas.

About 80 million cubic meters (mcm) of gas have to be injected into 30 oil reservoirs in the south, said the National Iranian South Oil Company's (NISOC) managing director, Hormoz Qalavand.

Right now, 80 per cent of that demand is met by the NISOC. The company hopes to that number will reach 100 per cent this year as new phases of Iran's joint South Pars oil and gas field come online.

The NISOC has 1555 production wells in operation. They turn out three million barrels of crude oil and 110 mcm of gas a day.