Renewed Call for Employing Modern Oil Recovery Methods

A 1% increase in crude recovery rate will raise Iran’s oil extraction capacity by 800 million barrels, the former managing director of Central Iranian Oil Fields Company said.
“Iran is sitting on an estimated 800 billion barrels of oil and condensates in place, of which only 239 billion barrels are recoverable at the current recovery rate that stands at 25%,” Ramin Hatami was also quoted as saying by ILNA.
In other words, if the recovery factor reaches 26%, the National Iranian Oil Company will be able to add 800 million barrels to its present withdrawal capacity, he added.
Recovery factor is the ratio of technically and economically recoverable reserves to the total amount of oil in a reservoir.