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The CEO of the National Iranian South Oil Company (NISOC) said his company had started production from the first well in a package of projects aimed at enhancing productivity of old oil fields in Iran.
Ahmad Mohammadi said Well No. 6 of Kaboud Field in Bangestan Reservoir, Ilam Province, western Iran, had become operational with an average production rate of 1,000 barrels per day.
The project is among a package of projects aimed at increasing and maintaining productivity of 28 oil fields operated by NISOC in server Iranian provinces in western, southwestern and southern parts of the country.
Back in February 2019, a series of contracts were signed by NISOC and Iranian developers to implement the projects.
The contracts entail enhancing and maintaining productivity of Kaboud, Gachsaran Khami, Lali Asmari, Nargesi, Mansouri Asmari and Ramshir fields.
Mohamamdi said successful drilling of well No. 6 of Kaboud Field brought about a number of achievements for NISOC including updated data about the field and its reservoir, reviewing the production capacity of Ilam Structure in Bangestan Reservoir, observing environmental and waste management requirements and transferring experiences and knowledge of NISOC.
Kaboud Field is located in Ilam Province and is one of the fields operated by NISOC.
Once fully operational, the package of projects is expected to ramp up the country’s total crude oil production capacity by 300,000 b/d.
The projects are estimated to cost $6 billion and take three years to complete.
They also include oil fields in 7 provinces of the country and each project will be developed with an average of $220 million.
NISOC accounts for over 80 percent of Iran’s crude oil output.
