Baku, Azerbaijan, Aug. 3
By Fatih Karimov – Trend:
Russian Zarubezhneft Company will help Iran to increase recovery rate of its two joint oilfields, SHANA news agency reported Aug. 3.
The Russian company will provide Iran with strategic methods for increasing the recovery rate in Aban and Paidar Gharb oilfields after carrying out the needed studies. Iran shares the mentioned fields with Iraq.
Almost about 80 percent of Iran’s oil fields are in their second half-life, losing 8 to 14 percent of their production level naturally each year.
The National Iranian Oil Company (NIOC) and Zarubezhneft have already signed a memorandum of understanding (MOU) under which the Russian company will carry out a series of studies on Paidar Gharb and Aban fields.
In a meeting with the Russian firm representatives Aug. 2, Gholam Reza Manouchehri, deputy head of the NIOC said that Tehran not only seeks to cooperate with Zarubezhneft as investor in the fields, but also eyes to benefit from the Russian company’s updated technology in oil sector.
He further said that the two parties will hold more sessions in the next two months and the Russian side will submit a roadmap to the Iranian counterpart on increasing the oil recovery rate of the two fields.