Additionally, projects involving online monitoring, data management, and artificial intelligence-based decision support systems are underway.

Speaking at the specialized meeting on technologye-based oil and gas production enhancement during the Third Petrotech Conference on Sunday, Mahdiya Motahari expressed optimism that the defined projects would lead to significant advancements in enhanced oil recovery.

He noted that approximately 54% of the budget is allocated to enhanced recovery, 16% to production optimization, 17% to exploration, and 13% to reservoir management. Based on the outcomes of these projects, 37% are expected to reach the design phase, while 5% will advance to field construction and implementation.

Motahari added that the NIOC has committed to covering the costs of implementing technology projects that reach the design phase. These projects have developed three technologies in drilling, six in production, and four in reservoir management.

Highlighting the numerous ongoing projects with estimated recovery rate improvements, Motahari emphasized that successful implementation would significantly boost Iran’s oil production.

The company has increased its share in risk-taking within investment and business models and aims to expand its oil export market by the end of the year.

He also mentioned a nearly completed hydrogen-related project from last year, along with seven research agreements signed with national research centers. These initiatives are expected to enhance gas security quality and address pressure drop issues.

Motahari further stated that two or three digital super-systems are being implemented across eight oil fields, with online monitoring, data management, and AI-based decision support systems in progress.

Numerous AI projects are underway, with contracts for many set to be signed by early next year. As the largest domestic company, the NIOC is poised to create a significant market in AI, with hopes that these projects will address challenges within the company.