Boosting ultimate recovery of oil, gas wells on agenda: Official
Iran has plans to boost the ultimate recovery of oil and gas wells, said the head of the Research and Development Department of Arvandan Oil and Gas Company.
Issa Naviri added that most of the Iranian wells introduced for recovery are located in the South Azadegan oil field with an average recovery factor of 4.4 percent, Shana reported.
The mission of Arvandan Oil and Gas Company is to develop and maintain oil and gas production from hydrocarbon reservoirs located in the west of the Karoun River with the highest ultimate recovery, the official noted.
He put the production target for his company at 900,000 barrels of crude oil per day and said: “The volume of in-situ oil in the operation field of the company is more than 96 billion barrels, 8.3 billion barrels of which are recoverable.”
Meanwhile, the deputy CEO of the National Iranian Oil Company (NIOC) for supervising oil and gas production at joint fields put the average daily crude oil produced from each oil well in the country at 1,550 barrels.
Ali Barati added that the NIOC has pursued the plan of reviving low-yielding oil wells of the country in cooperation with domestic technology-based companies for more than two years now.
He further noted that the cost of producing an oil barrel in a newly established field is more than a thousand US dollars.
The development of applied software and indigenized technical know-how in the oil industry is among the advantages of the plan for reviving low-yielding oil wells in the country, Barati emphasized.