BAKU, Azerbaijan, July 29
By Elnur Baghishov – Trend:
A multi-phase hydraulic pump for oil wells was produced by Iranian specialists for the first time in Iran, deputy director of Business Development and Investment of Arvand Free Zone Organization Ali Mousavi said at a presentation in the Arvand Free Trade Zone, Trend reports citing the organization’s website.
Mousavi noted that the pump was produced at a cost of more than 100 billion rials (about $2.38 million).
He added that the pump will be used to rehabilitate of activities of inactive oil and gas wells in Iran's onshore areas.
The deputy director said that the domestic production of this pump will put an end to Iran's dependence on other countries in the oil and gas sector.
"The domestic production of each pump has saved $4 million," he said.
Mousavi emphasized that with the commissioning of each pump, it is possible to extract up to 5,000 barrels of oil from inactive wells.
According to him, it is also possible to pump gas from the pump to oil and gas wells in order to increase production.
"The return of inactive wells to production will result in the addition of $50-$100 million to the country's revenues," he said.
The pump is designed to increase the pressure in oil and gas wells from 20 PSI to 1,400 PSI, to transport 100-10,000 barrels of oil and gas per day, to pump 98 percent of gases extracted with oil, and to prevent explosions in oil wells.
