BAKU, Azerbaijan, October 25. Iran's Offshore Oil Company (IOOC) has increased crude oil output by 7,500 barrels per day by carrying out repair work at the Rashadat oil field, an official of the company Mahmoud Reza Haghighi said, Trend reports.
The official noted that the MTU-B diesel generator was repaired and reinstalled by the company's specialists on the oil platform in the Rashadat oil field during the 6th month (August 23 through September 22, 2023).
Haghighi added that after the installation of the generator, some tests were carried out and production increased in the Rashadat oil field.
Reportedly, Iran's Rashadat oil field is located in Hormozgan Province in the south of the country. The field produces 46,400 barrels of crude oil per day.
The Iranian Offshore Oil Company (IOOC) was established in 1980 under the auspices of the National Oil Company of Iran. The territory under the control of the IOOC reaches up to more than 1,800 square kilometers. The company's oil fields contain 96 million barrels of crude oil reserves, of which 16 million barrels are extractable.
Moreover, there are 180 billion cubic meters of gas reserves in gas fields under the company's control. Of this, more than 120 billion cubic meters are extractable.
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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