70499
NISOC Targeting 20% Rise in Recovery Rate
NISOC Targeting 20% Rise in Recovery Rate

NISOC Targeting 20% Rise in Recovery Rate

NISOC Targeting 20% Rise in Recovery Rate

National Iranian South Oil Company aims to increase the recovery rate of its oilfields by as much as 20%, the company's chief executive officer says.
Bijan Alipour also said on Tuesday that the state-owned company operates 66 oil reservoirs, with 230 billion barrels of in-place crude. He added that gas injection to boost recovery is being carried out on almost 50% of the fields operated by NISOC, the official news portal of the National Iranian Oil Company reported.  
Alipour added that out of the 66 reservoirs, which account for two-thirds of Iran’s in-place oil reserves, 18 are in the second half of their life cycle.
"Injecting gas into underground reservoirs has been exercised for over four decades in Iran," the official said, underlining the method as one of the most efficient oil recovery techniques in Iranian oilfields that has resulted into an overall 8% increase in recovery factor.
“We can increase the rate of recovery by 15% and 20% if gas injection is implemented across all NISOC reservoirs," he added.
Earlier this month, Alipour told ISNA that studies conducted by NISOC over the last four years show Iran’s recoverable crude oil reserves have increased by 4.4 billion barrels.
The latest government data indicate total proven crude oil reserves are close to 160 billion barrels, of which 16 billion barrels are in the Persian Gulf.
“Iran so far has drawn close to 7.8 billion barrels of oil from its Persian Gulf reservoirs,” he said without specifying a timeframe. “Around 8.2 billion more barrels are extractable.”

Short URL : https://goo.gl/eJqCVs
  1. https://goo.gl/4CK3Tm
  • https://goo.gl/4WceHG
  • https://goo.gl/wMBDnY
  • https://goo.gl/oL9pKk
  • https://goo.gl/9MtToh

You can also read ...

Iraq Raising Crude Exports to Make Up for Kirkuk Shortfall
Iraq said it was increasing oil exports on Saturday from the...
Shipping delays and quality concerns are jeopardizing Venezuela’s crude sales.
Venezuela's state-run petroleum firm PDVSA has been barred...
The possibility that OPEC will extend the cuts points to a more optimistic view of the industry.
Schlumberger reported on Friday a higher net profit for the...
Iran's Heavy Crude Price Ticks Up
Iran's crude oil price movements were limited in the week to...
Iran is pushing ahead with plans to build several LNG production and export facilities.
Despite years of speculations and no action, Iran continues to...
NIGC Assures Stable Energy Supply in Winter
In line with efforts to ensure energy supply during the cold...
Saudi Arabia's Falih Calls for Crude Supply Cooperation
Saudi Oil Minister Khalid al-Falih made a high profile visit...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus