Iran decreases gas re-injections to oil fields

Business Materials 16 September 2016 12:13 (UTC +04:00)

Baku, Azerbaijan, Sept. 15

By Dalga Khatinoglu – Trend:

Iran has significantly decreased gas re-injections to oil fields, while the demand for re-injections is more than three times of the current recycling volume.

According to a report of Oil Ministry, Iran re-injected 72.2 million cubic meters per day (mcm/d) of gas in the fiscal year to March 2015, which indicates an 11.9-percent decrease year-on-year.

Iran should have re-injected 1,270 billion cubic meters (bcm) of gas to oil fields to maintain crude oil production from 1995 to 2015, but its cumulative recycling volume stood only at 828 bcm.

Iran should also re-inject about 280 mcm/d of gas to old oil fields from 2016 to 2021.

About 80 percent of Iran’s active oil fields are in their second half-life and lose 8-12 percent of their output annually. The pace of output decline would slow with more gas re-injection.