Bijan Namdar Zangeneh also said that Iran’s petroleum industry should become the top country in terms of technology among oil-rich countries in the Middle East.
He said one-percent rise in recovery from the reservoirs will earn the country $700 billion in revenues.
Zangeneh singled out Norway, saying the European country has boosted its recovery rate from 30% to 60% in two decades.
He said the recovery rate of Iranian reservoirs varies between 7 and 40%.
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