Second-stage contracts signed to revive Iran low-yield wells by using homegrown tech

SHANA (Tehran) – The second stage of reviving Iran’s low-yield wells got the go-ahead, as the Petroleum Industry Innotech Park head representing the National Iranian Oil Company and the representative of four knowledge-based companies inked the contracts here on Tuesday. 

Mohammad Esmaeil Kefayati, the park chief, said new homegrown technologies will be employed to revive these wells and even increase the output of active wells.

He added the Petroleum Industry Innotech Park and knowledge-based companies have had good cooperation this year.
The project of reviving oil wells is an exceptional opportunity for domestic knowledge-based companies to work on Iran’s wells for the first time, Kefayati continued.

He expressed hope that the annual production of more than 700 low-yield oil wells will rise to 80 million barrels.

News ID 470370


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