BAKU, Azerbaijan, September 11. The National Iranian South Oil Company (NISOC) is working on the plan to raise the daily crude oil production capacity by 458,000 barrels for the current Iranian year (from March 21, 2023 through March 19, 2024), said Ramin Roghanian, head of technical issues department of the NISOC, Trend reports.
Roghanian noted that the crude oil production capacity is being increased by: drilling new development wells to increase it by 58,000 barrels per day, drilling wells for repairs to increase it by 143,000 barrels per day, and repairing wells (without drilling) to increase their output by 257,000 barrels per day.
The official added that in the current year, the production capacity from the company's oil fields is expected to naturally decrease by more than 400,000 barrels per day due to a number of reasons, including: change in the direction of the oil flow in the reservoir, decrease in the pressure in the oil wells, aging of the existing facilities, and so on.
He also pointed out that as a result of research conducted in the past two years in 6 oil reservoirs of the company, it was found that it is possible to increase the production capacity by 250,000 barrels per day.
The National Iranian South Oil Company (NISOC), a subordinate of National Iranian Oil Company (NIOC), operates 45 large and small hydrocarbon deposits in an area of 400,000 square kilometers from Iran's Bushehr Province to the north of Khuzestan Province.
About 80 percent of Iran's crude oil production and 16 percent of gas production accounted for by the company’s oil zones.
There are currently 74 active oil and 22 active gas fields in Iran. So, 37 oil fields are operating in the territory of the National Iranian South Oil Company (NISOC), 14 fields – Iranian Central Oil Fields Company (ICOFC), 5 fields – Arvandan Oil and Gas Company (AOGC), and 18 oil fields – Iranian Offshore Oil Company (IOOC).
In addition, 5 gas fields are operating in the territory of the NISOC, 13 fields – the ICOFC, 1 field – Pars Oil and Gas Company (POGC), and 3 gas fields – the IOOC.
Iran’s total hydrocarbon reserves are estimated at 1.2 trillion barrels. With available technology and equipment, Iran can extract 340 billion barrels. Thus, 30 percent of the country's hydrocarbon reserves are recoverable, while 70 percent remain underground.
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