Page 5 - MEOG Week 45
P. 5

MEOG                                         COMMENTARY                                               MEOG








































                         Iran keeps drilling                  exploration drilling success rates, with that of
                         Meanwhile, with a firm mandate from Tehran to  natural gas estimated at around 60%; however,
                         maintain momentum in the sector, the National  this has been tempered by low recovery rates
                         Iranian Drilling Co. (NIDC) announced last  for oil and this has led to increased activities in
                         week that it had spudded 72 oil and gas wells  recent years as Tehran seeks to improve pro-
                         during the first seven months of the current Ira-  duction capacity.  Akbari alluded to this effort,
                         nian calendar year, which began on March 21.  noting that work is underway to relocate 17 light
                         These cover both onshore and offshore projects.  and heavy drilling rigs to projects in “oil-rich
                           NIDC’s head of drilling operations Saeed  provinces”.
                         Akbari said that of these wells, 22 were for
                         appraisal, 48 were workovers and two were  Downstream progress
                         exploratory wells.                   Progress has also been made in the downstream
                           Breaking down the data further, he added that  sector, and this is shown by the expectation
                         56 of the wells were drilled in the fields under  that processing capacity at Iran’s gas refineries
                         the operation of the National Iranian South Oil  will expand by 10% through the adding of new
                         Co. (NISOC), seven are run by the Iranian Off-  facilities or upgrading projects. Last week, it was
                         shore Oil Co. (IOOC), five were drilled for the  announced that the gas refinery for South Pars
                         Petroleum Engineering and Development Co.  phase 8 had processed more than 10 bcm of
                         (PEDEC), one was for the Iranian Central Oil  gas during the first seven months of the current
                         Fields Co. (ICOFC), with the remaining three  Iranian calendar year. While the field is being
                         carried out on behalf of the National Oil Co.’s  developed in 24 phases, the onshore down-
                         (NIOC) exploration department.       stream element of the South Pars comprises 14
                           Iran has been able to boast the world’s highest  gas refineries dedicated to processing output.™

























       Week 45   11•November•2020               www. NEWSBASE .com                                              P5
   1   2   3   4   5   6   7   8   9   10