TEHRAN, March 01 (Shana) — The National Iranian Oil Company (NIOC) announced on Wednesday that it has received the result of studies by a number of international oil companies on its oilfields and blocks and is currently weighing them.
He said Indonesia’s national oil company, Pertamina, is one of the IOCs to submit the result of its studies on Ab Teymour and Mansouri fields to NIOC.
“Russia’s Zarubezhneft proposed to develop Aban field and Indian ONGC wants to get involved in Farzad B gas field development project,” he added.
Because most of Indonesia’s oilfields are considered brown ones the country has had to develop certain technical savvy to pump more oil out of its aged reserves, argued Manouchehri.
“Pertamina has agreed to start developing the fields based on the newly-devised model of oil contracts in Iran,” he added. The contracts stipulate that developers shall stay active in the projects for a period of 20 years.
Pertamina, which spent 6 months to study the projects, has also indicated it will take advantage of downhole pumps, water injection techniques and acid fracturing to enhance oil recovery from the fields, added Manouchehri.
Moreover, the total production from the field will reach 1.696 billion barrels from currently 334m barrels. Its recover rate will also increase from 2.27% to 12% with nearly 300,000 b/d of oil recovery.
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