Iran drills 160,000 metres of oil and gas wells in 5 months

Iran Materials 30 August 2013 15:15 (UTC +04:00)

Azerbaijan, Baku, Aug.30/ Trend F.Karimov/

Some 160,000 metres of drilling has been conducted in Iran's onshore and offshore oil and gas wells since the beginning of the current Iranian calendar year (March 21), the Shana News Agency reported.

The figure was 10,000 metres more than the planned figure.

Iran plans to increase the number of its drilling rigs operating the onshore and offshore oilfields by 36 to reach 134 units by March 2014, the National Iranian Oil Company's (NIOC) managing director has said.

Ahmad Qalebani told the Shana news agency that the country's daily oil and gas outputs should amount to five million barrels and 1.47 billion cubic meters by 2015.

Some 2500 oil and gas wells should have been drilled and commissioned during Iran's fifth five-year economic development plan (2010-2015).

Iran has the world's fourth largest reserves of recoverable oil, after Venezuela, Saudi Arabia, and Canada.

With 34 trillion cubic meters of natural gas reserves, Iran has the world's second largest natural gas reserves after Russia.