RSS   Newsletter   Contact   Advertise with us
Post Online Media
Post Online Media Magazine

Austria to help Iran to improve oilfields’ recovery rate

Share on Twitter Share on LinkedIn
Staff writer ▼ | September 8, 2015
Amir Hossein Zamaninia
Cooperation   Amir Hossein Zamaninia:

Austria has expressed readiness to help Iran increase its oilfields recovery rate, Amir Hossein Zamaninia, the Islamic Republic’s deputy oil minister said.

He made the remarks while commenting on the topics negotiated during the meeting of Iran ’s Oil Minister, Bijan Namdar Zanganeh with Rainer Seele, managing director of the Austrian energy company OMV.

The company has expressed readiness to double recovery rate of Iran ’s oil and gas fields, using modern technologies, Zamaninia said, the Iranian oil ministry’s official SHANA news agency reported September 8.

The two parties negotiated on implementing enhanced oil recovery (EOR) and improved oil recovery (IOR) techniques in the Iranian fields, he added.

The oil recovery factor in Iran is very low. Iran is able to extract just 20 percent (157 billion barrels) of its oil reserves on average. The current active fields lose about 8 to 13 percent of production volume.

Tehran is producing about 2.8 million barrels of crude oil per day of which some 1.7 million barrels is consumed domestically.


What to read next
POST Online Media Contact