BAKU, Azerbaijan, March 27. National Iranian Drilling Company (NIDC) drilled and upgraded 100 oil and gas wells in the past Iranian year (from March 20, 2024, through March 20, 2025), Mehran Makvandi, Executive Director of the company, told local media, Trend reports.
According to him, of the drilled wells, 76 were for repair and 24 were for development. 74 wells (60 for repair and 14 for development) were drilled in the territory of the National Iranian South Oilfields Company (NISOC).
Makvandi also mentioned that 11 wells were drilled in the Iranian Central Oil Fields Company (ICOFC) area, 3 in the Offshore Oil Company area, 7 in the Petroleum Engineering & Development Company area, and 5 in the National Iranian Oil Company’s (NIOC) order.
The company official further noted that since its establishment in 1979, the company has drilled and upgraded 5,154 oil and gas wells.
Currently, Iran has 74 active oil fields and 22 gas fields. There are 37 oil fields operating under the Southern Oil Zones National Company of Iran, 14 under the Central Oil Zones Company of Iran, 5 under the Arvandan Oil and Gas Production Company, and 18 under the Offshore Oil Company. Additionally, there are 5 gas fields operating under the Southern Oil Zones National Company of Iran, 13 under the Central Oil Zones Company, 1 under the Pars Oil and Gas Company, and 3 under the Offshore Oil Company.
Iran's total hydrocarbon reserves amount to 1.2 trillion barrels. With existing technology and equipment, Iran can extract 340 billion barrels, but it is only utilizing about 30 percent of its reserves, with 70 percent remaining untapped underground.
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