CEO Ramin Hatami said efforts are focused on maximizing capacity and improving efficiency, adding that productivity gains are a core mission of the company and are being advanced seriously in both subsurface and surface operations.

In the subsurface sector, Hatami said higher productivity is directly linked to increased recovery from oil and gas fields. He noted that effective measures using reservoir-centered and well-centered approaches have been implemented and are continuing, aimed at raising recovery factors and production.

Key role of South Oilfields in oil production

Addressing surface projects, Hatami said collecting associated flare gas—described as a national asset long burned off—ranks among the company’s most important programs. He said employees are committed to fully capturing the gas and preventing flaring.

Under current plans, Hatami said flaring will be reduced to a minimum by the end of the Iranian year 1407, with a gradual and complete shutdown of flares beginning next year and continuing through 1407.

Noting that the company holds a significant share of the country’s oil reserves and output, Hatami said its role in developing Iran’s oil industry will become more prominent as expansion and production growth plans advance.

Several oil projects to open soon

Hatami announced that several projects will be inaugurated in the near future, ranging from small-scale initiatives to two major projects. He said some are related to the collection and processing of associated gas, while others focus on services, workplace improvements and enhancing employee welfare.

He added that each year flagship productivity projects are identified, highlighting the associated gas-gathering project implemented across the company’s operating areas with the participation of Bidboland Persian Gulf Gas Refinery and Maroun Petrochemical. The project has drawn particular attention for its significant productivity gains, wealth creation and completion of the value chain.