NIOC: Advanced Tech Needed to Enhance Crude Recovery Rate

Iran's recoverable oil reserves are estimated to be 100 billion barrels, of which 30% can be extracted, managing director of the National Iranian Oil Company said.
“As long as we do not take advantage of improved oil recovery technologies, the average rate of recovery from oilfields will not exceed the current 30%,” Mohsen Khojastehmehr was also quoted as saying by the Oil Ministry’s news agency Shana.
According to the official, Iran's in-place oil reserves are estimated at 1,200 billion barrels.