20 September 2014 - 10:25
  • News ID: 225063
IOOC Seeking Higher Rate of Oil Lift

TEHRAN Sept 20 (Shana)--The Iranian Offshore Oil Company (IOOC) injects 400 thousand barrels of water to the wells covered by the company, the highest volume of water injection in the country.

Managing director of IOOC Saeed Hafezi said the company pursues preservation projects of oil reservoirs as a top priority and, to this end, it injects one barrel of water or a certain amount of gas in order to maximize benefits from recovery of one barrels of oil.  
According to Hafezi, completion of development plans at oil and gas fields, maintenance and providing the needed capital for investment are the main goals the company seeks.
Hafezi further said that IOOC follows three methods for lifting resources which include natural way of production, deploying electric wellhead equipment and gas injection.
The company produces 65 percent of the oil by natural methods and the rest by deploying mechanical and electrical machinery and equipment, he said.  
Elsewhere in his remarks, he said high rate of the mixture of water with oil in production operations reduces efficiency at wells and causes corrosion in facilities so the average of water cut in IOOC-run wells stands above 50 percent and it reaches 90 percent in some wells.
News ID 225063

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