BAKU, Azerbaijan, January 15. The National Iranian South Oil Company (NISOC) will use well pumps to maintain and increase crude oil production over the next 5 years, the company's representative Babak Moridi told reporters, Trend reports.
According to him, 180 well pumps will be replaced, and new ones will be installed following the program within the specified timeframe.
Moridi noted that the installation of the specified number of pumps is expected to produce about 80,000 barrels of crude oil per day and maintain production of 120,000 barrels.
The official noted that the NISOC is using one of the artificial lift methods to maintain and increase crude oil production from depressurized wells. So far, 72 wells have been installed with downhole pumps (ESP, SRP, PCP), which effectively add 60,000 barrels to the production. The use of downhole pumps is one such method.
Iran's National South Oil Company, affiliated with Iran's national oil company, owns 45 large and small hydrocarbon fields in an area of 400,000 square kilometers from Iran's Bushehr province to the northern province of Khuzestan. The territories of this company produce about 80 percent of Iran's crude oil and 16 percent of gas.
To note, Iran's total hydrocarbon reserves amount to 1.2 trillion barrels. Iran can produce 340 billion barrels with existing technological equipment. Iran can utilize about 30 percent, while 70 percent remains unutilized underground.
