Official: Iran’s Oil Wells Produce 1,550 bpd of Crude on Average
Barati said that the NIOC has pursued the plan of reviving low-yielding oil wells of Iran in cooperation with domestic knowledge-based companies for more than two years.
He added that more than $1,000 should be spent for the production of an oil barrel in a newly established field.
The development of applied software and indigenized technical know-how in the oil industry is among the advantages of the plan for reviving low-yielding oil wells in Iran, Barati said.
Official figures showed in September that the economic growth of Iran’s oil sector has increased 368 percent year on year (YoY) in spring 2023.
According to the data released by the Central Bank of Iran (CBI), the country’s oil sector’s economic growth rose to 16.4 percent in the first quarter of the current Iranian calendar year (starting March 21, 2023) from 3.5 percent in spring 2022.
It also indicated that the increase in oil production and exports accounts for more than 24 percent of the country’s gross domestic product (GDP) growth in this year’s spring.
Meantime, the GDP including oil grew 6.2 percent and it stood at 5.2 percent excluding oil during the three months.
Iran has repeatedly announced in recent months that its oil output and exports have increased despite the US sanctions.
The monthly reports of the Organization of the Petroleum Exporting countries (OPEC) confirm the rise in Iran’s oil production and exports.
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