Pointing out that the average production of oil wells in the country is 1,550 barrels per day, deputy director of petroleum and gas production supervision in joint fields said: “This average will increase in the coming years with the revitalization of low-yield wells.”

Stating that for more than two years, the National Iranian Oil Company has been advancing the country’s low-yield oil wells revitalization project in cooperation with domestic knowledge-based companies, and so far, several wells have been handed over to these companies, Ali Barati stated at the national event of the closed and low-yield oil wells revitalization project: “Currently, the cost of increasing the production of one barrel of petroleum in new fields is more than a thousand dollars, while this project increases the extraction from dead and low-yield wells with much lower costs.”

Referring to the presence of processing and transmission facilities near the low-yield oil wells, he said: “As soon as production increases in these wells, this increase in production will be consumed in the country or exported without delay.”

The deputy director of petroleum and gas production supervision in joint fields considered another advantage of the project to revive low-yield oil wells in Iran to be the development of application software and local technical knowledge in the petroleum industry and stated: “For years, technology has been produced in domestic scientific centers and has been put in the libraries; it has not practically entered the petroleum industry. In other words, this project is an exceptional opportunity for domestic knowledge-based companies.”

Barati pointed to the expenses of operating companies to increase production in Iran’s National Oil Company and acknowledged: “Many of the oil well revitalization projects are not rig-oriented, and this means lower production costs.”