Iran to boost recoverable reserves at southern oilfield
Recoverable oil from the Nargesi onshore field, located in south of Iran, will be increased by 120 million barrels once the oilfield's development plan comes on stream, Trend news agency reported, referring to ISNA news agency.
The oilfield would see its output rising after gas injection and associated gas gathering operations are implemented.
The $33 million recovery enhancement project has beenassigned to an Iranian contractor within the framework of an Engineering, Procurement and Construction (EPC) contract.
The field was discovered in 1974. NISOC, a subsidiary of the
state-run National Iranian Oil Company (NIOC), is currently
operating nearly 750 oil output preservation projects, 12 of which
are scheduled to come on-stream by the end of the current Iranian
calendar year in March 2013.
NISOC accounts for three million barrels per day of crude oil.
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