BAKU, Azerbaijan, November 13. Iranian Offshore Oil Company (IOOC) has boosted its crude oil production capacity by 30,000 barrels per day in the past few months, said Alireza Motaali, an official of the company, Trend reports.
Motaali noted that the production capacity increase was the result of the work done in two oil fields.
The official added that the IOOC implemented a project to increase production in the Abouzar oil field, which added 29,000 barrels to the production capacity in a few months. The project involved operations in oil wells, pressure enhancement in the field, and laying two pipelines.
He also stated that the production capacity in the Forouzan oil field increased by 1,000 barrels last month with the start of production from the F8-5 well.
Abouzar oil field is located 75 km west of Kharg Island in Bushehr Province. So far, three platforms have been launched in this field, and more than 200,000 barrels of crude oil are produced daily.
The Forouzan oil field is located in the Persian Gulf, 100 km southeast of Kharg Island in the Bushehr Province (southern Iran). This oil field was discovered in 1966.
The field contains about 2.3 billion barrels of oil. Iran reportedly extracts about 40,000 barrels of oil daily from the field at present.
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 is 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 the 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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