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Iran to examine oil and gas reservoirs to boost recovery
- Iran: Wednesday, June 13 - 2012 at 11:30
The National Iranian Oil Co (NIOC) is planning to examine all the country's oil and gas reservoirs, in a bid to carry out the needed checks for implementing improved recovery rate projects in them, Fars news has reported. Based on primary estimates, $75bn should be invested in order to enhance recovery rate by 1%, NIOC said. Late last month, Iran's oil minister Rostam Qassemi said if the oil industry succeeds in promoting the figure by 1%, Iran's oil production will rise by six billion barrels in the next three years.
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StaffWednesday, June 13 - 2012 at 11:30 UAE local time (GMT+4)
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