2021-05-29NISOC Considers Extraordinary Production Boost: CEOTEHRAN (NIOC) _ The CEO of the National Iranian South Oil Company (NISOC) said: Increasing oil production capacity is on the agenda of this company, which is the most targeted plan on production enhancement over the past 20 years.”
Ahmad Mohammadi, speaking on Tuesday, said NISOC is operating reservoirs of roughly 351 billion barrels of proven crude oil, which, considering the average recovery rate of 28% is about 100 billion barrels of recoverable oil.
Referring to the NISOC capacities to boost oil production, he added: "Relying on these capacities, a heavy and perhaps bold plan to increase the production of this company has been formulated, so that in the first step, achieving production levels prior to the sanctions and then a re-increase of this amount of production is considered.”
The NISOC CEO continued: "In this plan, construction of 13 more prefabricated units in the field of salt oil processing is foreseen. According to the decision of the Ministry of Petroleum and the National Iranian Oil Company, the power of technology companies in the form of innovation and technology parks of the oil industry can be used for units with a capacity of less than 25,000 barrels.”