31 August 2022 - 13:10
  • News Code: 461445
NISOC Eyes 3mbd Production Capacity by March 2023

TEHRAN (Shana) – The National Iranian South Oil Company (NISOC) has planned to bring its crude oil production capacity to 3 million barrels per day by the end of the current calendar year, which began on March 21.

According to NISOC, Ramin Roghanian, the director of technical affairs of NISOC, said: “This year's goal of this company is to reach the daily production capacity of 3 million barrels per day, which will be achievable if the requirements are met.”

A five-year plan has been developed in both surface and subsurface sectors, he said, adding in the subsurface section, drilling of new wells, workover of a number of existing wells, and a large volume of downhole restoration operations, and in the surface section, construction and development of a number of facility projects are planned.

He said: “75 technological contracts have been either signed or are being signed with knowledge-based companies and domestic universities to support domestic manufacturing and meet the technological needs of NISOC.”

The NISOC official further stated that the final goal of this scheme is to achieve the production capacity of 3 million barrels per day, adding: “Tenders are being held as part of the above requirements. The main challenges of achieving this are the long process of holding tenders, determining a fair estimate according to the inflation rate, issuing the necessary permits to determine the tasks of the projects, lack of drilling equipment inventory, empowering the National Iranian Drilling Company, access to modern technologies, providing repair services and supply of downhole pumps.”

News Code 461445

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