20 December 2021 - 11:41
  • News Code: 450576
30% of Iran Oil and Gas Resources Recoverable: NIOC CEO

TEHRAN (Shana) -- The CEO of the National Iranian Oil Company stressed the need to absorb and transfer technology in the company, and said: "Underground capital is not our (Iran’s) competitive advantage. It can be an advantage when we can recover it.”

Mohsen Khojasteh Mehr said today (Monday, December 20) at the National Research Day ceremony: “Today, there are a total of 1,200 billion barrels of crude oil equivalent of underground hydrocarbon resources located in 400 oil and gas reservoirs in Iran. The world has become more complex and the era of cheap oil production is over.”

Pointing out that in the current situation, less than 30% of the available resources can be extracted with the available technologies, the Deputy Minister of Petroleum said: "This has a meaning; if we want to turn existing resources into wealth, we must use science and technology.”

Khojasteh Mehr, stating that science and technology bring both wealth and power, said, “If we are after power, we must get help from science and technology.”

"Since the victory of the Islamic Revolution, we have sold more than one trillion dollars of oil. The main question is: “What is the share of technology?”"

He added: "In the National Iranian Oil Company, according to the emphasis of the upstream documents, we want to have a significant share to generate wealth from underground reservoirs, and in this way we must use technologies maximally.”

News Code 450576

Tags

Your Comment

You are replying to: .
2 + 7 =