Iran News ...


04/18/09

Iran to inaugurate world's biggest oil recovery project

Tehran Times Economic Desk

TEHRAN - The world's largest enhanced oil recovery (EOR) project, costing $300 million, will soon come on stream at the Aghajari oilfield in southwestern Iran, the Aghajari Oil and Gas Company managing director said on Friday.

Seyyed Abdollah Mousavi told IRIB that that the project will be implemented with the injection of 2 billion cubic feet of gas per day from the South Pars gas field to the Aghajari oilfield to produce 5,000 barrels of oil daily.

Enhanced oil recovery is a technique for increasing the amount of crude oil that can be extracted from an oil field. Using EOR, 30-60 percent, or more, of the reservoir's original oil can be extracted, compared with 20-40 percent using primary and secondary recovery.

Aghajari oilfield holds about 10 billion barrels of oil, which after gas injection is projected to produce an additional 2.1 billion barrels in a 25-year timeframe.

Iran's 2008 estimated proven natural gas reserves stand at 948 trillion cubic feet, second only to Russia. Roughly two-thirds of Iranian natural gas reserves are located in non-associated fields and have not been developed. Major natural gas fields include the South and North Pars gas fields, the Tabnak gas field, and the Kangan-Nar gas field.

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